Before recording of a final subdivision plat, or as a condition of final site plan approval, or as a condition to the issuance of a zoning permit pursuant to N.J.S.A. 40:55D-65, the Board may require and shall accept, for the purpose of assuring the installation of on-tract improvements, a performance guaranty in accordance with § 330-57A(1) and subject to §
330-59.
Before recording of a final subdivision plat, or as a condition of final site plan approval, or as a condition to the issuance of a zoning permit pursuant to N.J.S.A. 40:55D-65, the Board may require and shall accept, for the purpose of assuring the installation of on-tract improvements, a maintenance guaranty in accordance with § 330-57A(2). The form and amount of such guaranty shall be subject to the provisions of §
330-58.
The Board and governing body may require a guaranty in the nature
of a restoration bond, or letter of credit for restoration purposes,
in favor of the Township, in an amount not to exceed 120% of the estimated
cost of site or tract restoration, to be determined by the Township
Engineer, to assure that a tract or site which has been disturbed
is thereafter restored to its original condition if and when a developer
fails to perform the approved development and when the governing body
determines that the public interest favors restoration of the tract
or site rather than performance of the development.
Inspection fees attributable to the services of the Township Engineer in connection with the provisions of §§
330-134 through
330-136 and
330-57 shall be paid pursuant to and in accordance with §
330-57H. Inspection fees attributable to the services of the Board Engineer for inspection of improvements within the contemplation of N.J.S.A. 40:55D-53.2 shall be paid pursuant to and in accordance with §
330-139.
Whenever an amount of money in excess of $5,000 shall be deposited
by the applicant with the Township for professional services employed
by the Township to review applications for development, for municipal
inspection fees in accordance with Subsection h of N.J.S.A. 40:55D-53
or to satisfy the guaranty requirements of Subsection a of N.J.S.A.
40:55D-53, the money, until repaid or applied to the purposes for
which it is deposited, including the applicant's portion of the interest
earned thereon, except as otherwise provided in this section shall
continue to be the property of the applicant and shall be held in
trust by the Township. Money deposited shall be held in escrow. The
Township receiving the money shall deposit it in a banking institution
or savings and loan association in this state insured by an agency
of the federal government, or in any other fund or depository approved
for such deposits by the state, in an account bearing interest at
the minimum rate currently paid by the institution or depository on
time or savings deposits. The Township shall notify the applicant
in writing of the name and address of the institution or depository
in which the deposit is made and the amount of the deposit. The Township
shall not be required to refund an amount of interest paid on a deposit
which does not exceed $100 for the year. If the amount of interest
exceeds $100, that entire amount shall belong to the applicant and
shall be refunded to him by the Township annually or at the time the
deposit is repaid or applied to the purposes for which it was deposited,
as the case may be; except that the Township may retain for administrative
expenses a sum equivalent to no more than 33 1/3% of that entire
amount which shall be in lieu of all other administrative and custodial
expenses.
[Amended 11-8-1999 by Ord. No. 99-22]
An application fee shall be paid at the time of filing an application for development. The amount of fee shall be determined pursuant to the categories and classifications contained in Chapter
250, Fees and Escrows, Article
II. Consideration has been given to the relative and comparative complexity of different categories and classifications of applications. Such fees are designed to be reasonable and to recover the actual costs of municipal operations attributable to the processing and disposition of applications for development. Such operating costs include secretarial and other administrative costs, attendance at regular meetings by Board and/or municipal consultants, costs of preparation, publication and reproduction of documents, and related items and matters. Application and filing fees are to be paid over to the Township Treasurer and added to the Township's funds. Any application fees received in connection with informal or concept review by the Planning Board pursuant to N.J.S.A. 40:55D-10.1 shall be credited against fees for a subsequent formal application for development. Charitable, philanthropic, fraternal, and religious nonprofit organizations holding a tax exempt status under the Federal Internal Revenue Code of 1954, 26 U.S.C. § 501(c) or (d), the Township of Vernon and the Board of Education are exempt from application or filing fees, but shall be subject to any escrow for review of any development application. Each organization, other than the Township of Vernon and the Board of Education, shall file a current federal tax exempt status letter as a checklist item.