§134-91.3. Determination of nature of improvement.
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A.Consistent with the provisions of this chapter, the Municipal Council with the assistance of the municipal agency and other appropriate township departments, shall, prior to the imposition of any conditions on a development application, determine whether the off-site, off-tract improvement is to be constructed by the township as a general improvement, as a local improvement or whether such development is to be constructed by the developer with a formula providing for partial reimbursement if the improvement specially benefits properties other than those of the developer
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B. Once the foregoing determination has been made, the municipal agency shall estimate, with the aid of the Township Engineer and such other persons having pertinent information or expertise, the cost of the improvement and the amount by which all properties to be serviced thereby, including the developer's property, will be specially benefitted therefrom
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C. Following the aforesaid determinations by the municipal agency, the developer may be required to provide, as a condition for approval, a bond or cash deposit to ensure payment to the township of one (1) of the following amounts
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(1) If the improvement is to be constructed by the township as a general improvement, an amount equal to the difference between the estimated cost of the improvement and the estimated total amount by which all properties to be serviced thereby, including the developer's property, will be specially benefitted by the improvement
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(2) If the improvement is to be constructed by the township as a local improvement, then, in addition to the amount referred to in Subsection C(1), the estimated amount by which the developer's property will be specially benefitted by the improvement.
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(3) If the improvement is to be constructed by the developer, an amount equal to the estimated cost of the improvement
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D. The amounts of money required pursuant to this section shall be estimated sums, and such amounts shall be redetermined by the township following the completion of the improvement to ensure that the developer shall pay only his appropriate share of the cost thereof
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E. Should a developer pay under protest the amount which has been determined as his pro rata share, legal action shall be instituted within one (1) year of such payment in order to preserve the right to a judicial determination as to the fairness and reasonableness of such amount
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§134-91 4 Assessment of properties
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A.The township shall assess all properties, other than the property of the developer specially benefiting from installation of any off-site or off-tract improvements, based upon the actual cost thereof, as provided in § 4-35 of Chapter 4, Administration of Government, and pursuant to the provisions of the Revised Statutes of New Jersey However, principal amounts received by the township from such assessments, together with interest from property owners who have elected to pay for said assessments over a period of years, shall, in the case where the developer is the installer of the off-site or off-tract improvements, he credited to the real estate account of the applicant's property In the case where there has been an apportionment of cost against the township for the required off-site or off track improvements and the developer is the installer of the off-site or off-tract improvements, then the township shall pay its portion of cost to the developer not more than three (3) months after the completed installations have been approved by the Township Engineer
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B. In the event of any default in payment of an assessment levied by the township pursuant to Subsection A above, then the township shall exercise its remedies elsewhere provided, and, if thereafter the balance of principal and interest due upon the subject assessment has not been fully satisfied by payment to the township and credit thereof given to the real estate account of the developer's property, then the township shall forthwith pay said balance to the developer or his then successor in interest
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§134-91.5 Developer's share of cost for improvements not installed by him .
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In the event that the developer shall not be required to install off-sue or off-tract improvements virtue of the provisions of this chapter, then and in that event there shall be paid to the Township Treasurer the amount of the developer's share of the finally determined cost of the off-site or off-tract improvement All moneys received by the township in accordance with the provisions of this section shall be deposited in an interest-bearing account, and such funds shall be used only for the improvements for which they are deposited or improvements serving the same purpose If the improvements are not initiated within a period of fifteen (15) years from the date of payment, or other mutually agreeable period of time, all deposited funds shall be returned to the developer, together with accumulated interest | |||||||