A.
There is hereby created and designated within the Township of Montclair the Montclair Center Special Improvement District (the district), hereinafter designated by street address and tax lot and block number as set forth on Exhibit A attached hereto.[1] All the costs of development, construction, and acquisition relating to the provision of improvements within the special improvement district not borne by federal, state, county or local government shall be assessed or taxed to properties specially benefited thereby, as provided by N.J.S.A. 40:56-65 et seq. The improvements and facilities of the district shall be operated and maintained, and the annual costs thereof shall be assessed or taxed to properties specially benefited thereby pursuant to the provisions of this article and N.J.S.A. 40:56-80 or N.J.S.A. 40:56-85.
[1]
Editor's Note: Said exhibit is on file in the Township offices.
B.
The special assessment rate in the district shall not exceed 10% of the total of the prior year's local, county and school tax rates.
C.
Tax exempt properties are hereby excluded from the foregoing special assessments, except as provided in Subsection D below. Properties exclusively in residential use are also excluded from the foregoing special assessment. All other properties within the designated district, including those of a mixed residential and commercial use, shall be subject to the special assessment provided by the article. Residential portions of a mixed use shall not be excluded from the special assessment.
[Amended 3-20-2012 by Ord. No. O-12-18]
D.
Properties subject to and tax exempt by virtue of a financial agreement requiring the property to make payments in lieu of taxes (PILOT) shall not be excluded from and are expressly included in the special assessments authorized by this chapter, so long as such property is not excluded for a reason other than tax exemption granted by such financial agreement. Notwithstanding the PILOT tax exemption, the values of such properties, for purposes of calculating the special assessment payable, shall be the amounts shown on the current year's Real Property Tax List in the column headed "(5) Land - Improvements-Total."
[Added 3-20-2012 by Ord. No. O-12-18]