[Ord. 93-5 § 901, 1993; Ord. 99-24 § 1, 1999; Ord. No. 2012-09, §§ 1, 2, 11-27-2012; Ord. 2013-13, § 1, 11-26-13; Ord. No. 2022-17, 11-22-2022; Ord. No. 2024-27C, 12-26-2024]
A. 
Every application for development shall be accompanied by a certified check(s) payable to the "Borough of Ship Bottom" in accordance with the following schedule of administrative charges and escrow account deposits. Where one application for development includes several approval requests the sum of the individually required administrative charges and escrow account deposits shall be paid, with separate checks for the total administrative charges and for the total escrow account deposits. Fees and copies of requested items, special meetings, and other items also included in the fee schedule.
Type
Administrative Charges
Plus
Escrow Account Deposits
1.
Informal Review
a.
One 15 minute appearance
None required
+
None required
b.
Any additional appearance
$200
+
$750
2.
Subdivisions
a.
Minor subdivision plat
$625
+
$2,000
b.
Preliminary major division plat
$1,500
+
$2,500 plus $75 per lot
c.
Final major subdivision plat
$750
+
$1,500 plus $55 per lot
d.
Amended minor, preliminary major and/or final major subdivision plat
50% of original administrative charges
+
50% of original escrow account deposits
e.
Request for reapproval or extension of time
$425
+
$1,000 per lot
3.
Site Plans
a.
Minor site plan:
$750
+
$2,500
b.
Preliminary major site plan
$1,500
+
$2,500 for first acre or part of acre, plus $500 for each additional acre or part of acre, plus $100 per dwelling unit in the case of multiple-family units and/or $0.10 per gross square foot of building area in the case of nonresidential buildings
c.
Final major site plan
$950
+
$1,000 for first acre or part of acre, plus $250 for each additional acre or part of acre, multiple-family units and/or $0.05 per gross square foot of building area in the case of nonresidential buildings
d.
Amended minor, preliminary major and/or final major site plan
50% of original administrative charges
+
50% of escrow account deposits.
e.
Request for reapproval or extension of time
$425
+
$500 per acre or part of acre
4.
Conditional uses (in addition to fees for required site plan or subdivision review)
$500
+
$1,000 for first acre or part of acre, plus $50 for each additional acre or part of acre.
5.
Variances
a.
Appeals (40:55D-70a):
$500
+
$2,000
b.
Interpretation (40:55D-70b)
$500
+
$2,000
c.
Bulk (40:55D-70c)
$500 per application
+
$2,000 for first variance plus $50 for each additional variance
d.
Use and others (40:55D-7-d)
$625
+
$2,000
e.
Permit (40:55D-34 and 35)
$500
+
$2,000
6.
Waivers
$225
+
$125 for first waiver plus $25 for each additional waiver
7.
Requested special meeting of land use review board
$2,000
+
None required
8.
Holdover meeting
$250 for regular meeting; $500 for special meeting
+
None required
9.
Certified list of property owners or certified list of public utilities
$0.25 per name or $10, whichever is greater
+
None required
10.
Copy of minutes, resolution or decisions
$1 per page for first copy of a page, plus $0.25 per copy for each additional copy of a page
+
None required
11.
Transcription of meeting proceedings
At cost
+
None required
12.
Copy of tape of public hearing
$35 per tape
+
None required
13.
Subdivision approval certificate
$50 per certificate
+
None required
14.
Certificate of nonconformity (40:55D-68)
$50 per certificate
+
None required
15.
Zoning permit
a.
Fence, sign
$25 per permit
+
None required
b.
HVAC, deck rebuild, pavers, pools
$75 per permit
+
None required
c.
New structures, house raises
$150 per permit
+
None required
d.
Bulkheads, docks and piers
$175 per permit
+
None required
16.
Resale certificate of occupancy
a.
Single-family dwelling
$50 per dwelling unit
+
None required
b.
Duplex/commercial
$100
+
None required
c.
Triplex or quad
$50 per dwelling unit
+
17.
Public utility registration for notice
$10
+
None required
18.
Application for construction in beach dune area (Subsections 16.72010(C) and 16.72.010(D))
$700
+
$750
a.
Permit for beach dune area construction
$250
+
None required
b.
Permit for bulkhead construction
$4 per linear foot
+
None required
19.
Permit only for soil removal in beach dune area (Subsection 16.72.010(D))
$50
+
None required
20.
The fees noted above are estimated to cover costs incurred by the board for the review of the initial application. Additional fees totaling 50% of the original fee shall be posted by the applicant for each plan review submitted after the original submission.
B. 
The administrative charges are flat fees to cover administrative expenses and are nonrefundable.
C. 
The escrow account deposits are required to pay for the costs of professional services including engineering, planning, legal and other expenses connected with the review of submitted materials, including any traffic engineering review or other special analysis related to the Borough's review of the submitted materials, or any necessary studies regarding off-tract improvements. An applicant is responsible to reimburse the Borough for all expenses of professional personnel incurred and paid by the Borough for the review process of an application for development before a municipal agency, such as, but not limited to:
1. 
Charges for reviews by professional personnel of applications, plans and accompanying documents;
2. 
Issuance of reports by professional personnel to the municipal agency setting forth recommendations resulting from the review of any documents submitted by the applicant;
3. 
Charges for any telephone conference or meeting requested or initiated by the applicant, his or her attorney or any of his or her experts or representatives;
4. 
Review of additional documents submitted by the applicant and issuance of reports relating such documents;
5. 
Review or preparation of easements, developer's agreements, deeds, approval resolutions, or the like;
6. 
Preparation for and attendance at all meetings by professionals such as the board planner, traffic engineer or other experts as required; and
7. 
The cost of expert advice or testimony obtained by the municipal agency for the purpose of corroborating testimony of applicant's experts.
D. 
The escrow account deposits shall be placed in a separate account by the Borough treasurer chief financial officer at the direction of the admin officer and an accounting shall be kept of each applicant's deposit.
1. 
All professional charges shall be paid from the account and charged to the applicant;
2. 
Any moneys expended for professional services may be returned to the applicant within 90 days upon written request by the applicant and as authorized by the Borough council;
3. 
If, at any time during the review procedure, 75% of the moneys posted shall have been expended, the applicant shall be required to post such additional sum as may be required by the administrative officer to cover professional costs;
4. 
The applicant shall not be entitled to proceed with the application or any development until such time as the necessary moneys have been posted to guarantee payment of professional service fees;
5. 
All payments charged to the deposit shall be pursuant to vouchers from the professionals stating the hours spent, the hourly rate and the expenses incurred;
6. 
No professional submitting charges to the Borough for any review of an application for development shall charge for such services at any higher rate or in any different manner than would normally be charged to the Borough for similar work; and
7. 
The Borough shall render a written final accounting to the developer on the uses to which the deposit was put and, thereafter, the Borough shall, upon written request, provide copies of the vouchers to the developer.
E. 
Each applicant shall agree to pay all reasonable costs for professional review of the application. All such costs for review must be paid before any approved plat, plan or deed is signed and before any zoning permit, construction permit, certificate of occupancy, and/or other permit is issued.
F. 
Payment by the Borough of any bill rendered by a professional to the municipality with respect to any service for which the municipality is entitled to reimbursement under this title shall in no way be contingent upon receipt by the municipality of reimbursement from the applicant, nor shall any payment to a professional be delayed pending the reimbursement from an applicant.
G. 
If an applicant desires a court reporter, the cost for taking testimony and transcribing it and providing a copy of the transcript to the Borough shall be at the expense of the applicant who also shall arrange for the reporter's attendance.
[Ord. 93-5 § 902, 1993; amended by Ord. 2005-30 § 1, 2005]
For purposes of this chapter, the term "public improvements" means streets, grading, pavement, gutters, curbs, sidewalks, street lighting, street signs, shade trees, surveyor's monument, fire prevention features, water mains, culverts, sewers, sanitary sewers or other means of sewage disposal, drainage structures, erosion control and sedimentation devices, landscaping, public improvements of open space, and other onsite improvements.
A. 
Requirements Specific to Major Subdivisions. No final major subdivision application (whether for an entire tract or a section of a tract) shall be approved by the board until the satisfactory completion and performance of all required public improvements has been certified to the board by the Borough engineer unless the owner has performed the following:
1. 
Satisfactorily completed all required utility installations and their appurtenances, including water mains, drainage facilities, culverts, storm sewers, sanitary sewers and public improvements of open space;
2. 
Satisfactorily completed all required grading and the macadam base course surfacing of all streets;
3. 
Satisfactorily completed the construction of all required curbs; and/or
4. 
Filed with the Borough a performance guarantee in accordance with Subsection D of this section, sufficient in amount to cover the cost of all remaining required improvements, as estimated by the Borough engineer, and assuring the installation of such improvements on or before an agreed date and as hereinafter provided.
B. 
Requirements Specific to Major Site Plans. No final major site plan application (whether for an entire tract or a section of a tract) shall be approved by the board unless: (1) the Borough engineer has certified to the board that all public improvements required by the preliminary site plan approval have been satisfactorily completed; or (2) the applicant, with the approval of the land use review board, has entered into a developer's agreement with the Borough in a form satisfactory to the Borough attorney and authorized by the governing body, requiring the installation and maintenance by the applicant (and the applicant's successors in interest) of the public improvements, imposing such limitations upon, and/or staging of, the development of the site as are necessary to ensure orderly construction of the public improvements on or before an agreed upon date by the filing of a performance guarantee in accordance with Subsection D of this section.
C. 
Requirements Specific to Minor Subdivisions and Minor Site Plans. In the case of a minor site plan and/or minor subdivision, in the event that the developer elects to complete all improvements without posting the performance guarantee required by Subsection D of this section, no construction shall be commenced until a revised plan is submitted and signed, incorporating all conditions of approval. The developer shall still post the inspection escrow and notify the Borough engineer prior to commencement of work. All site improvements under this subsection must be completed prior to the issuance of a certificate of occupancy, or within 120 days of a temporary certificate of occupancy if the performance guarantee covering the balance of the uncompleted improvements has been posted.
D. 
Performance Guarantee.
1. 
A performance guarantee estimate shall be prepared by the Borough engineer for review and approval, setting forth all required improvements as determined by the board and their estimated cost. Any adjustment in the amount of the performance guarantee shall be approved by resolution of the Borough council.
2. 
The cost of the installation of the required improvements shall be estimated by the Borough engineer based on documented construction costs for public improvements prevailing in the general area of the Borough. The developer may appeal the Borough engineer's estimate to the Borough council. The Borough council shall decide the appeal within 45 days of receipt of the appeal in writing by the Borough clerk. After the developer posts a guarantee with the Borough based on the cost of the installation of improvements as determined by the Borough council, he or she may institute legal action within one year of the posting in order to preserve the right to a judicial determination as to the fairness and reasonableness of the amount of the guarantee.
3. 
The applicant shall present two copies of the performance guarantee in an amount equal to 120% of the approved performance guarantee estimate for approval as to form and execution by the Borough attorney, additional copies of the performance guarantee shall be forwarded by the owner to the board attorney. The performance guarantee estimates, as prepared by the Borough engineer and approved by the Borough attorney, shall be appended to each performance guarantee posted by the obligor.
4. 
The performance guarantee shall be made payable and deposited to the Borough of Ship Bottom and shall be in the form of cash, an irrevocable letter of credit in accordance with N.J.S.A. 40:55D-53.5, a certified check, a performance bond provided by an acceptable surety company licensed to do business in the state of New Jersey and with the applicant as principal, or in another form of guarantee acceptable to the Borough. The Borough shall issue its receipt for such deposits and shall cause them to be deposited in the name of the Borough to be retained as security for completion of all requirements and to be returned to the owner on completion of all required work or, in the event of default on part of the applicant, to be used by the Borough to pay the cost and expense of obtaining completion of all requirements.
The applicant shall provide a written agreement from his or her lending institution stating that the lending institution agrees to the time period(s) required for the completion of the improvements and to the release of the guarantee by the Borough council in accordance with Subsection G of this section.
10% of the amount of the approved performance guarantee shall be deposited by the applicant in cash, with the Borough. The remaining 90% may be in cash, an irrevocable letter of credit in accordance with N.J.S.A. 40:55D-53.5, a surety bond, or in another form of guarantee acceptable to the Borough. In the event of default, the 10% cash shall be first applied to the completion of the requirements and any bidding and legal costs associated with such completion of requirements; and the remaining 90% cash, letter of credit, surety bond, or other form of guarantee shall thereafter be resorted to, if necessary, for the completion of the requirements and any additional bidding and legal costs associated with such completion requirements.
E. 
Start of Construction. Construction pursuant to a site plan or subdivision approval shall not commence until:
1. 
The applicant has paid all fees required by this title;
2. 
The applicant has received all other governmental approvals required by the board's resolution of memorialization granting subdivision and/or site plan approval;
3. 
All revisions to the submitted plat or plan required by the board at the time of subdivision or site plan approval have been filed with and approved by the Borough engineer and any other individual or group as may have been specified by the board in the applicable resolution of memorialization granting subdivision and/or site plan approval;
4. 
The applicant's construction plans have been filed with and approved by the Borough engineer;
5. 
The applicant has had a preconstruction meeting with the Borough engineer in accordance with Section 16.88.030(A) of this title, for the purpose of forecasting and resolving problems that may arise during the time of construction.
F. 
Inspection and Tests.
1. 
All site improvements and utility installations for site plans, subdivisions, plot plans and other realty improvements shall be inspected during the time of their installation under the supervision of the Borough engineer to insure satisfactory completion. The cost of such inspection shall be the responsibility of the developer who shall deposit with the Borough treasurer/chief financial officer inspection fees in an amount not to exceed, except for extraordinary circumstances, the greater of $500 or 5% of the cost of the improvements as determined by the Borough engineer in accordance with Subsection (D)(2) of this section, provided that:
a. 
For those developments for which the reasonable anticipated inspection fees are less than $10,000, the fees may, at the option of the developer, be paid in two installments. The initial amount deposited by the developer shall be 50% of the reasonably anticipated fees. When the balance of deposit drops to 10% of the reasonably anticipated fees because the amount deposited by the developer has been reduced by the amount paid to the Borough engineer for the inspection(s), the developer shall deposit the remaining 50% of the anticipated inspection fees.
b. 
For those developments for which the reasonable anticipated inspection fees are $10,000 or greater, the fees may, at the option of the developer, be paid in four installments. The initial amount deposited by the developer shall be 25% reasonably anticipated fees. When the balance of deposit drops to 10% of the reasonably anticipated fees because the amount deposited by the developer has been reduced by the amount paid to the Borough engineer for the inspection(s), the developer shall make additional deposits of 25% of the anticipated inspection fees.
2. 
The inspection escrow shall be deposited by the Borough treasurer/chief financial officer, or his or her designee, in an account for such purposes under the sole control of the Borough. Such inspection escrows may be commingled with similar escrows from other developers, but accurate accounts and records shall be kept so as to identify the particular escrows and charges made against them. The inspection escrow funds shall be used solely for payment of inspection fees, expenses and costs on behalf of the Borough during the course of construction by the Borough engineer.
3. 
The Borough engineer shall not perform any inspection if sufficient funds to pay for those inspections are not on deposit. Failure of the developer to deposit the required inspection fees in accordance with Subsection (F)(1) of this section will subject the developer to a stop-work order and/or suspension of construction permits.
4. 
In no case shall any paving work be done without permission from the Borough engineer. At least two working days' notice shall be given to the Borough engineer prior to any construction so that he or she or a qualified representative may be present at the time the work is to be done.
5. 
Streets shall not be paved with a top course until all heavy construction is completed and, if determined by the Borough engineer to be necessary, the macadam base course has first been restored. Shade trees shall not be planted until all grading and earth moving is completed. The placing of surveyor's monuments shall be among the last operations.
6. 
The Borough engineer's office shall be notified at least two working days prior to the commencement of the following phases of work so that he or she or a qualified representative may inspect the work:
a. 
Road subgrade;
b. 
Curb and gutter forms;
c. 
Curbs and gutters;
d. 
Road paving;
e. 
Sidewalk forms;
f. 
Sidewalks;
g. 
Drainage pipes and other drainage construction;
h. 
Street name signs;
i. 
Monuments;
j. 
Sanitary sewers and pump stations;
k. 
Topsoil, seeding and planting;
l. 
Underground utilities;
m. 
Potable water facilities.
7. 
Any improvement installed contrary to the plan or plat approval by the Borough shall constitute just cause by the approving authority or designated official to void or deem voidable the municipal approval. Moreover, if a certificate of occupancy or construction permit is issued by a Borough official pursuant to Section 16.84.020 of this title, such certificate or permit does not indicate acceptance by the Borough of any deviation(s) from the plan or plat as approved by the board.
8. 
Any improvement installed without notice for inspection pursuant to Subsection (F)(4) of this section shall constitute just cause for:
a. 
Removal of the uninspected improvement;
b. 
The payment by the developer of any costs for material testing;
c. 
The restoration by the developer of any improvements disturbed during any material testing; and/or
d. 
The issuance of a stop work order by the Borough engineer pending the resolution of any dispute.
9. 
Inspection by the Borough of the installation of improvements and utilities shall not operate to subject the Borough to liability for claims, suits or liability of any kind that may at any time arise because of defects or negligence during construction or at any time thereafter, it being recognized that the responsibility to maintain safe conditions at all times during construction and to provide proper utilities and improvements is upon the owner and his or her contractor, if any.
10. 
Upon substantial completion of all required street improvements (except for the top course) and appurtenant utility improvements, and the connection of them to the public system, the obligor may request of the Borough council in writing, by certified mail in care of the Borough clerk, that the Borough engineer prepare in accordance with the itemized cost estimate prepared by the Borough engineer and appended to the performance guarantee pursuant to Subsection (D)(3) of this section, a list of all uncompleted or unsatisfactory completed improvements. If such a request is made, the obligor shall send a copy of the request to the Borough engineer. The request shall indicate which improvements have been completed and which improvements remain uncompleted in the judgment of the obligor. The Borough engineer shall inspect all the improvements covered by the obligor's request and shall file a detailed list and report, in writing, with the Borough council, and shall simultaneously send a copy of such list and report to the obligor not later than 45 days after receipt of the obligor's request.
If the Borough engineer fails to send or provide the list and report, as requested by the obligor, within 45 days from the receipt of the request, the obligor may apply to the court in a summary manner for an order compelling the Borough engineer to provide the list and report within a stated time and the cost of applying to the court, including reasonable attorney's fees, may be awarded to the prevailing party.
11. 
The list prepared by the Borough engineer pursuant to Subsection (F)(10) of this section, shall state, in detail, with respect to each improvement determined to be incomplete or unsatisfactory, the nature and extent of the incompleteness of each incomplete improvement or the nature and extent of, and remedy for, the unsatisfactory state of each completed improvement determined to be unsatisfactory. The report prepared by the Borough engineer shall identify each improvement determined to be complete and satisfactory together with a recommendation as to the amount of reduction to be made in the performance guarantee relating to the completed and satisfactory improvement, in accordance with the itemized cost estimate prepared by the Borough engineer and appended to the performance guarantee pursuant to Subsection (D)(3) of this section.
G. 
Release. The Borough council, by resolution, shall either approve the improvements determined to be complete and satisfactory by the Borough engineer, or reject any or all of these improvements upon the establishment in the resolution of cause for rejection, and shall approve and authorize the amount of reduction to be made in the performance guarantee relating to the improvements accepted, in accordance with the itemized cost estimate prepared by the Borough engineer and appended to the performance guarantee pursuant to Subsection (D)(3) of this section. This resolution shall be adopted not later than 45 days after receipt of the list and report prepared by the Borough engineer.
1. 
Upon adoption of the resolution by the Borough council, the obligor shall be released from all liability pursuant to its performance guarantee, with respect to those approved improvements, except for that portion adequately sufficient to secure completion or correction of the improvements not yet approved; provided that 30% of the amount of the performance guarantee posted may be retained to ensure completion and acceptability of all improvements.
2. 
In the event that the obligor has made a cash deposit with the Borough or approving authority as part of the performance guarantee, then any partial reduction granted in the performance guarantee shall be applied to the cash deposit in the same proportion as the original cash deposit bears to the full amount of the performance guarantee.
3. 
If any portion of the required improvements is rejected, the obligor shall complete or correct such improvements and, upon completion or correction, shall notify the Borough council as specified in Subsection (F)(10) of this section and the same procedures shall be followed as in the first instance.
4. 
Prior to the approval by the Borough council of the final reduction and release of the performance guaranty, all easements and open space shall be conveyed to the Borough or such other guarantee as specified on the final plat by deed containing a metes-and-bounds legal description.
5. 
If the Borough council fails to approve or reject the improvements determined by the Borough engineer to be complete and satisfactory or reduce the performance guarantee for the complete and satisfactory improvements within 45 days from the receipt of the Borough engineer's list and report, the obligor may apply to the court in a summary manner for an order compelling, within a stated time, approval of the complete and satisfactory improvements and approval of a reduction in the performance guarantee for the approvable complete and satisfactory improvements in accordance with the itemized cost estimate prepared by the Borough engineer and appended to the performance guarantee pursuant to Subsection (D)(3) of this section, and the cost of applying to the court, including reasonable attorney's fees, may be awarded to the prevailing party.
H. 
Conditions and Acceptance of Improvements. The approval of any application for development by the Borough shall in no way be construed as acceptance of any street or drainage system or other improvement. No improvements shall be accepted by the Borough council unless and until all of the following conditions have been met:
1. 
The final application for development shall have been approved by the land use review board and the developer shall have submitted an affidavit, signed by a licensed New Jersey professional land surveyor, certifying that all required monuments have been set in accordance with the Map Filing Law and any approved subdivision plat;
2. 
The Borough engineer shall have certified in writing that the improvements are completed and that they comply with the requirements of this title and the terms of the final application for development approved by the board;
3. 
The owner shall have filed with the Borough council a maintenance guarantee in an amount equal to and not more than 15% of the cost of installing the improvements, the cost to be determined by the Borough engineer in accordance with Subsection (D)(2) of this section. The maintenance guarantee shall run for a period of two years, provided that the maintenance guarantee shall not terminate until the Borough council has authorized its release pursuant to a recommendation by the Borough engineer.
The procedures and requirements governing such maintenance guarantee shall be identical with the procedures and requirements for a performance guarantee set forth in this title. The requirements for a maintenance guarantee may be waived by the Borough council only if the Borough engineer has certified that the improvements have been in continuous use for not less than two years from the date the Borough engineer certified completion of such improvements and that during this period the owner has maintained the improvements in a satisfactory manner; and
4. 
An as-built plan and profiles of all utilities and roads (two black and white prints to be sent to the Borough engineer plus a mylar copy and two black and white prints to be sent to the administrative officer), with certification signed and sealed by a New Jersey licensed professional engineer as to the actual construction as approved by the Borough engineer, shall be provided.
I. 
Extension of Time. The time allowed for the installation of the improvements for which the performance guarantee has been provided may be extended by the Borough council by resolution, provided that the current cost of installation of such improvements shall first be redetermined by the Borough engineer, and if such current cost is found to be greater than the cost as originally determined, the applicant shall be required to increase the amount of the performance guarantee to an amount equal to 120% of the installation cost as redetermined. In the event that the redetermined cost shall be less than the cost as originally determined, and in further event that the applicant's performance guarantee exceeds 120% of such redetermined costs, the applicant shall be entitled to a reduction of the performance guarantee to an amount equal to 120% of such redetermined costs.
J. 
Default by Developer. If the required improvements are not completed or corrected in accordance with the performance guarantee, the obligor and surety, if any, under the performance guarantee shall be liable as a result of such performance guarantee, to the Borough for the cost of the improvements not completed or constructed, and the Borough, either prior to or after receipt of the proceeds from such guarantee, may complete the improvements. Such completion or correction of improvements shall be subject to the public bidding requirements of the Local Public Contracts Law, P.L. 1971, c.198. For purposes of this subsection, "default" means failure to install the improvements in accordance with Borough standards of construction, including but not limited to failure to install the improvements prior to the expiration of the performance guarantee. The Borough engineer's certification that the developer has defaulted in compliance with the required standards of construction and installation of improvements shall be the basis for Borough council action which rejects the improvements, withholds approval, withholds construction permits or formally declares default and authorizes collection on the performance guarantee.
K. 
Penalties. In addition to the penalties for violation of this title in accordance with Section 16.88.050, the Borough engineer, or another Borough official designated by the Borough council, is specifically authorized to require the replacement or restoration of any lands, buildings, structures and site improvements (including clearing, whether on-site or off-site) or of any other work commenced or continued on any site for which an approval is required pursuant to this title in violation of any stop-construction order or the standards for construction as established by the Borough.
[Ord. 93-5 § 903, 1993]
Whenever an amount of money in excess of $5,000 is deposited by an applicant or developer with the Borough for professional services employed by the Borough for the review of submit applications for development pursuant to Section 16.84.010 of this chapter, or for inspections pursuant to Section 16.84.020(F) of this chapter, or to satisfy the guarantee requirements pursuant to Section 16.84.020(D) of this chapter, the money, until repaid or applied to the purposes for which it is deposited, including the applicant's portion of the interest earned from the performance guarantee, except as otherwise provided in this section, shall continue to be the property of the applicant or developer and shall be held in trust by the municipality in accordance with the following:
A. 
The money deposited shall be held in escrow.
B. 
The money shall be deposited by the Borough in a banking institution or savings and loan association in New Jersey insured by an agency government, or in any other fund or depository approved for such deposits by the state.
C. 
The money shall be deposited in an account bearing interest at the minimum rate currently paid by the institution or depository on time or savings deposits.
D. 
The Borough shall notify the applicant in writing of the name and address of the institution or depository in which the deposit is made and the amount of the deposit.
E. 
The Borough shall not be required to refund an amount of interest paid on a deposit which does not exceed $100. However, if the amount exceeds $100, that entire amount shall belong to the applicant or developer and shall be refunded to him or her by the Borough annually or at the time the deposit is repaid or applied to the purposes for which it was deposited, as the case may be; except that the Borough may retain for administrative expenses a sum equivalent to not more than 33 1/3% of that entire amount which shall be in lieu of all other administrative and custodial expenses.
[Ord. 93-5 § 904, 1993; amended by Ord. No. 2016-22, § 4, 9-27-2016]
Applicants shall be required, as a condition for approval of a subdivision, site plan or conditional use, to pay the cost of providing reasonable and necessary street improvements and/or water, sewerage and drainage facility improvements, and any necessary easements therefor located outside the property limits of the subject premises as necessitated or required by construction or improvements within such subdivision or development subject to review and approval by the Borough engineer.