Anything to the contrary notwithstanding, failure
to pay a reservation fee shall result in the withholding of additional
sewer and/or water permits and Borough final approvals on service
connections.
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TABLE OF INITIAL RESERVATION FEES
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|---|---|---|
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Lump Sum Component:*
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Residential Fees
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|
[(20% a) - b] times r
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=
|
Total reservation fee paid Year 3
|
|
[(40% a) - b] times r
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=
|
Total reservation fee paid Year 4
|
|
[(60% a) - b] times r
|
=
|
Total reservation fee paid Year 5
|
|
[(80% a) - b] times r
|
=
|
Total reservation fee paid Year 6
|
|
(a - b) times r
|
=
|
Total reservation fee paid Year 7 and thereafter
|
|
Nonresidential Fees
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|
[(50% a) - b] times r
|
=
|
Total reservation fee paid Year 3
|
|
(a - b) times r
|
=
|
Total reservation fee paid Year 4 and thereafter
|
|
Recurring Quarterly Component:**
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|
[n(x + y)]
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(*)
|
The above formula illustrates the progression
of payment of the lump sum portion of the reservation fees to maintain
an allocation recited above where "a" represents the total approved
project, "b" represents the aggregate number of units (and/or square
footage for nonresidential purposes) for which water and/or sewer
connection permits have been issued by the Borough, and "r" equals
the prevailing per unit connection fee.
|
|
(**)
|
The above formula illustrates the recurring
quarterly payment of minimum water and/or sewer service fees to maintain
an allocation recited above where "n" represents the number of units
remaining to be issued connection permits at the beginning of a quarter,
"x" represents the prevailing quarterly water user fee, and "y" represents
the prevailing quarterly sewer user fee.
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