[Amended 9-8-1992]
A.
It is recognized that there exists an inadequate supply
of decent, safe rental housing for elderly persons and elderly families
in the Township of North Brunswick. The lack of properly constructed
rental housing specifically designed to meet the needs of the elderly
at affordable rentals is a serious social problem. To correct this
situation, it is necessary to provide for the erection of new dwelling
units at rentals at which the elderly can afford. These specific needs
and requirements can best be met through the sponsorship of an elderly
housing project by a nonprofit corporation.
B.
Since it is a public purpose and objective to secure
adequate housing for the elderly, the following provisions are designed
to facilitate the participation of a private nonprofit corporation
to develop a senior citizen housing project.