[Ord. No.
817 § A]
In cases where reasonable and necessary need
for any off-tract improvement or improvements is necessitated or required
by the proposed application for development, and where no other property
owners receive a special benefit thereby, the Board may require the
applicant, as a condition of approval, at the applicant's expense,
to provide for and construct such improvement(s) as if such were contract
improvements, in the manner provided hereafter and as otherwise provided
by law.
[Ord. No.
817 § C]
The applicant shall be required to provide,
as a condition for final approval of his application for development,
a performance guarantee running to the municipality as follows:
a. If the improvement is to be constructed by the applicant under Section
33-1 hereinabove or under Section 33-2b2 hereinabove, a performance bond with surety in an amount equal to the estimated cost of the improvement, or as to any part of the improvement, that is to be acquired or installed by the Borough under Section
33-1 a performance bond equal to the estimated cost of such acquisition or installation by the Borough;
b. If the improvement is to be constructed by the Borough
as a general improvement under Section 33-2b1(a) hereinabove, a performance
bond equal to the amount of the excess of the estimated cost of the
improvement over the estimated total amount by which all properties-including
the development property-will be specially benefited thereby; and
c. If the improvement is to be constructed by the municipality as a local improvement under Section 23-2b1(b) hereinabove, a performance bond equal to the amount referred to in Section
33-3b immediately above, plus the estimated amount by which the development property will be specially benefited by the improvement.
[Ord. No.
817 § D]
In any case in which an applicant shall deposit
money with the Borough for the completion of an improvement that is
to be constructed pursuant to this section by the Borough, the applicant
shall be entitled to a full refund of such deposit, if the Borough
Council shall not have enacted an ordinance authorizing the improvement
within two years after the date all other development improvements
are completed.
[Ord. No.
817 § E]
All moneys paid by an applicant pursuant to
this chapter shall be paid over to the Borough Treasurer, who shall
provide a suitable depository therefor. Such funds shall be used only
for the improvements for which they are deposited or improvements
serving the same purpose.
[Ord. No.
817 § F]
Upon completion of off-tract improvements required
pursuant to this chapter, the applicant's liability hereunder shall
be recalculated in accordance with the actual, as compared with the
estimated, cost of the improvements. To the extent that such recalculation
shall increase the amount of any cash deposit made by the applicant
hereunder, the applicant shall forthwith pay the amount of such increase
to the Borough. To the extent that it shall decrease the amount thereof,
the Borough shall forthwith refund the amount of such decrease to
the applicant. In cases where improvements are specially assessed
against all benefited properties, recalculation shall be made by the
municipal assessing authority in the course of special assessment
proceedings. In other cases, it shall be made by the Municipal Professional
Engineer.
[Ord. No.
817 §§ G and H]
As used in this chapter:
APPLICATION FOR DEVELOPMENT
Shall be deemed to mean the application form and all accompanying
documents required by Borough ordinances for approval of a subdivision
plat, site plan, planned development, conditional use, zoning variance,
or direction of the issuance of a permit, pursuant to N.J.S.A. 40:55D-34
or N.J.S.A. 40:55D-36.
BOARD
Shall be deemed to mean the Planning Board or the Zoning
Board of Adjustment.