The purpose of this Act is to properly administer and protect
the rights of certain citizens pursuant to the Senior Citizens and
Disabled Persons Protected Tenancy Act.
The landlord/sponsor of each rental unit proposed to be converted
to a condominium or cooperative after the effective date of the Senior
Citizens and Disabled Persons Protected Tenancy Act shall pay a fee
of fifty ($50.00) dollars per rental unit to the Borough of Point
Pleasant Beach. Said fee shall be for the purpose of offsetting the
cost to the Borough of administering this statute at the local level.