“Residential property” means any building or part of a building used, to be used or held for use as a home or residence, together with the land upon which it is situate. A residential property shall include single family dwellings, multifamily dwellings as defined under subsection (k) of section 3 of the “Hotel and Multiple Dwelling Law,” P.L.1967, c.76 (C. 55:13A-1 et seq.), and other rental unit property, and individual residences within a horizontal property regime as defined pursuant to the “Horizontal Property Act,” P.L.1963, c.168 (C. 46:8A-1 et seq.), or a condominium as defined pursuant to the “Condominium Act,” P.L.1969, c.257 (C. 46:8B-1 et seq.), units in a cooperative, and units in a mutual housing corporation;

“Cooperative” means a housing corporation or association which entitles the holder of a share or membership interest thereof to possess and occupy for dwelling purposes a house, apartment, manufactured or mobile home or other unit of housing owned or leased by the corporation or association, or to lease or purchase a unit of housing constructed or to be constructed by the corporation or association;

“Mutual housing corporation” means a corporation not-for-profit, incorporated under the laws of this State on a mutual or cooperative basis within the scope of section 607 of the “National Defense Housing Act,” Pub. L. 76-849, (42 U.S.C. § 1521 et seq.), as amended, which acquired a National Defense Housing Project pursuant to that act;

“Qualified resident” means a person who owns, rents or occupies residential property;

“Qualified entity” means a building or facility which is owned and used by:

(1) a public or private school, university, college or seminary for either classroom space or administrative office space;

(2) a church, synagogue or temple for holding religious services, or which is used to house church-, synagogue- or temple- related personnel;

(3) a clinic or hospital, including a residential building which is used to house personnel who are employed by the clinic or hospital;

(4) a nonprofit organization which operates under the provisions of Title 15A of the New Jersey Statutes, for the purposes for which the organization was created, or for administrative office space; or

(5) a business which has less than 10 full-time employees.

b. A city of the second class with a population of more than 80,000 but less than 88,000 according to the latest federal decennial census, located in a county of the second class with a population of more than 455,000 but less than 510,000 according to the latest federal decennial census, and a county or municipal sewerage authority whose operations plant is located within the city’s boundaries may negotiate a host community benefit for qualified residents and qualified entities within the city. The benefit shall be provided as a credit against the individual accounts of the qualified resident or entity, and the county or municipal sewerage authority and the city shall negotiate the amount of the benefit. Upon agreement of the parties, the governing body of the city shall adopt an ordinance setting forth the specific requirements under the agreement. In cases in which a qualified resident is not billed directly for the county or municipal sewerage authority’s services, the city shall, as part of the ordinance setting forth the specific requirements of the agreement, establish procedures under which the owner of the appropriate property shall insure that the qualified resident is compensated for the amount of the credit.

L.1991,c.266,s.1.