All associations as defined herein shall be reimbursed for snow removal,
streetlighting, solid waste and recyclable collection and disposal in accordance
with the formula established herein, on a phased-in basis, with 20% of the
total cost of these services to be paid in 1993; 40% of the total cost of
these services to be paid in 1994; 60% of the total cost of these services
to be paid in 1995; 80% of the total cost of these services to be paid in
1996; and 100% of the total cost of these services to be paid in 1997.
As used in this article, the following terms shall have the meanings
indicated:
ASSOCIATION
Any condominium, homeowners' or property owners' association or cooperative
which privately contracts for snow removal, streetlighting, solid waste collection
and disposal and recycling, or any such organization where individual members
privately contract for the above-referenced services.
BASE ASSESSMENT
The total taxable value of all housing units not occupied by tenants
within an association as reflected on the real property tax list as of October
1 of each year.
QUALIFIED PRIVATE COMMUNITY
A residential condominium, cooperative, fee simple community or horizontal
property regime, the residents of which do not receive any tax abatement or
tax exemption related to its construction, comprised of a community trust
or other trust device, condominium association, homeowners association or
council of co-owners, wherein the cost of providing essential services is
paid for by a not-for-profit entity consisting exclusively of unit owners
within the community.
REIMBURSEMENT PERCENTAGE
The percentage derived by dividing the sum of municipal expenditures
for snow removal, streetlighting, solid waste collection and disposal and
recyclable material collection by the total municipal current fund expenditures
for the calendar year.
The amount of the annual reimbursement to individual associations shall
be calculated in accordance with the following formula: base assessment divided
by 100 multiplied by local purpose tax rate multiplied by reimbursement percentage
equals reimbursement amount. No reimbursement for the cost of services shall
be provided by the Borough of Middlesex to or on behalf of any unit in a qualified
private community that is occupied by a tenant.
Factual data providing figures utilized to calculate the reimbursement
amounts shall be provided by the Borough on a form accompanying reimbursement
checks.