[Ord. No. 12-1343]
Whenever the developer within the Borough of Tinton Falls is required by ordinance, statute or stipulation of the Planning Board or Zoning Board of Adjustment to install sidewalks, the applicable board may waive said sidewalk requirement at the request of the developer, or on its own initiative.
[Ord. No. 12-1343]
Upon the granting of such a waiver, the developer shall be required to pay to the Borough of Tinton Falls an amount equal to the reasonable cost of installing said sidewalks, said amount to be determined by the Borough Engineer upon submission and consideration of various estimates and other documentation from the developer, other interested parties and the office of the Borough Engineer itself, taking into account factors such as the application of prevailing wage requirements added to the Borough's construction costs.
[Ord. No. 12-1343]
All funds collected by the Borough of Tinton Falls from developers as set forth above shall be maintained in a Sidewalk Capital Construction Fund account which is hereby authorized and created, the proceeds of which shall be made available to install sidewalks throughout the Borough of Tinton Falls where properly authorized by the Mayor and Council.
[Ord. No. 12-1343]
Nothing contained herein shall affect the right of the Borough of Tinton Falls to enact ordinances requiring assessments for sidewalks from property owners as authorized under N.J.S.A. 40:65-2, or other statutory rights granted to municipalities.