[Added 5-16-2018 by Ord. No. 2018-5]
In accordance with N.J.S.A. 40:55D-53.4, for the purpose of assuring the installation and maintenance of bondable land development improvements, as a condition of all final site plan, subdivision, and/or zoning permit approvals, the Board or Zoning Officer, as appropriate, shall require, and the Township Committee shall accept, the following guarantees:
A. Performance guarantees.
(1) The furnishing of a performance guarantee in favor of the Township in an amount not to exceed 120% of the cost of installation of only those improvements required by an approval or developer's agreement, ordinance, or regulation to be dedicated to a public entity, and that have not yet been installed for the following improvements as shown on the approved plans or plat: streets, pavement, gutters, curbs, sidewalks, streetlighting, street trees, surveyor's monuments, as shown on the final map, water mains, sanitary sewers, community septic systems, drainage structures, public improvements of open space, and any grading necessitated by the preceding improvements. The performance guarantee shall also cover the cost for privately owned perimeter buffer landscaping in an approved phase or section of a development, either as a separate guarantee or as a line item of the performance guarantee.
(2) The cost of the improvements covered by the performance guarantee shall be determined by the Township Engineer.
(3) The Township Engineer shall prepare an itemized cost estimate of the improvements covered by the performance guarantee, which itemized cost estimate shall be appended to each performance guarantee posted by the obligor.
B. Maintenance guarantee.
(1) In accordance with N.J.S.A. 40:55D-53.4, the developer shall post with the municipality a maintenance guarantee in an amount not to exceed 15% of the cost of the installation of the following private site improvements: stormwater management basins, in-flow and water quality structures within the basins, and the out-flow pipes and structures of the stormwater management system, if any, which cost shall be determined by the Municipal Engineer.
(2) The maintenance guarantee shall be furnished upon the inspection and issuance of final approval of the applicable private site improvements by the Municipal Engineer.
(3) The term of the maintenance guarantee shall be for a period not to exceed two years and shall automatically expire at the end of the established term.
C. Temporary certificate of occupancy guarantee.
(1) Pursuant to N.J.S.A. 40:55D-53(1)(c), a developer shall furnish a temporary certificate of occupancy guarantee ("TCOG") whenever the developer seeks a temporary certificate of occupancy for a development, unit, lot, building, or phase of development. The TCOG shall be furnished in favor of the municipality in an amount equal to 120% of the cost of installation of any improvements which: 1) remain to be completed or installed under the terms of the temporary certificate of occupancy; 2) are required to be completed or installed as a condition precedent to the issuance of a permanent certification of occupancy; and 3) are not covered by an existing performance guarantee.
(2) The scope and amount of the TCOG shall be determined by the Municipal Engineer.
(3) The TCOG shall be released upon the issuance of a permanent certificate of occupancy.
D. Safety and stabilization guarantee.
(1) Pursuant to N.J.S.A. 40:55D-53(1)(d), a developer shall furnish a safety and stabilization guarantee ("SSG") in favor of the municipality, either as a separate guarantee or as a line item of the performance guarantee.
(2) The amount of the SSG for a development with bonded improvements in an amount not exceeding $100,000 shall be $5,000. The amount of the SSG for a development with bonded improvements exceeding $100,000 shall be calculated as a percentage of the bonded improvement costs of the development or phase of development as follows:
$5,000 for the first $100,000 of bonded improvement costs, plus 2 1/2% of bonded improvement costs in excess of $100,000 up to $1,000,000, plus 1% of bonded improvement costs in excess of $1,000,000. |
(3) The municipality shall release a separate SSG to a developer upon the developer's furnishing of a performance guarantee which includes a line item for safety and stabilization in the amount required pursuant to this chapter.
(4) An SSG shall be available to the municipality for the purposes of returning property that has been disturbed to a safe and stable condition, or taking other measures to protect the public from access to an unsafe or unstable condition. An SSG shall be shall only be available to the municipality when:
(a) Site disturbance has commenced and, thereafter, all work on the development has ceased for a period of at least 60 consecutive days following such commencement for reasons other than force majeure; and
(b) Work has not recommenced within 30 days following the provision of written notice by the municipality to the developer of the municipality's intent to claim payment under the guarantee. A municipality shall not provide notice of its intent to claim payment under an SSG until a period of at least 60 days has elapsed during which all work on the development has ceased for reasons other than force majeure. A municipality shall provide written notice to a developer by certified mail or other form of delivery providing evidence of receipt.
(5) The municipality shall release an SSG upon the Municipal Engineer's determination that the development of the project site has reached a point that the improvements installed are adequate to avoid any potential threat to public safety.