This article is intended to ensure a pro rata
share allocation of the costs for off-tract improvements necessitated
by new development.
Where the proposed off-tract improvement is
to be undertaken at some future date, the monies required for the
improvement shall be deposited in an interest-bearing account to the
credit of the municipality in a separate account until such time as
the improvement is constructed. If the off-tract improvement is not
begun within 10 years of deposit, all monies and interest shall be
returned to the applicant.
The developer may request to participate in
a regional detention system instead of meeting the stormwater detention
obligation on site. If the Township Engineer recommends approval of
the request and the governing body grants such approval, the developer
shall contribute a nonrefundable amount equal to the cost of providing
on-site detention. Such contribution shall include costs for land,
design, construction and maintenance as approved by the Township Engineer.
Said amount shall be posted with the Township at final approval.
As a condition of final approval, the developer
shall enter into a developer's agreement with the municipality which
shall include the conditions, formula and costs for the proposed off-tract
improvement.