Borough of Somerdale, NJ
Camden County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Mayor and Council of the Borough of Somerdale 7-10-2008 by Ord. No. 2008:03. Amendments noted where applicable.]
In the event that a private party is required as part of a development approval by the Borough of Somerdale to construct a public improvement and that public improvement may in the future create a benefit for another private party's development project, the original developer of the public improvement will be entitled to a pro rata reimbursement of the costs of the public improvement by the subsequent private party.
In order to take advantage of the reimbursement provided for herein, the original developer shall, upon completion of the public improvement, file with the Borough Clerk, the Borough's Planning Board Secretary and the Borough Engineer a detailed statement as to the expenses directly incurred in the construction of the public improvement. These expenses shall include only expenses directly and solely incurred as a result of the public improvement.
At the time of any subsequent development subject to municipal approval which will benefit from the public improvement, the approving agency will impose, as a condition of that approval, a requirement that the subsequent private developer reimburse the original private developer a percentage of the expenses incurred based upon the benefit to be gained by the subsequent developer.