For the purposes of this article, the definition
of "off-site" shall also include "off-tract." Prior to the grant of
final approval of any major development or the grant of approval of
any minor development proposal or proposal prior to the issuance of
any building permits for any land use, including any residence or
other use of property on an unimproved street, the developer shall
pay his prorated share of the cost of providing any reasonable and
necessary street improvements and water, sewerage and drainage facilities,
and easements therefor, located outside the property limits of the
development but necessitated or required by construction or improvements
within the development. All payments shall be in the manner provided
herein, it being the intent that the developer bear that portion of
the cost which bears a rational nexus to the needs created by the
development and benefits conferred upon such development.
In the event that the developer shall not be
required to install off-site improvements by virtue of the provisions
of this article, then there shall be paid to the Borough Treasurer
the amount of the developer's share of the finally determined cost
of the off-site improvement. All moneys received by the borough in
accordance with the provisions of this article shall be deposited
in an interest-bearing account, and such funds shall be used only
for the improvements for which they are deposited or improvements
serving the same purpose. If the improvements are not initiated for
a period of 15 years from the date of payment or other mutually agreeable
period of time, all deposited funds shall be returned to the developer,
together with accumulated interest.