In cases where the need for an off-tract improvement
is created by the proposed subdivision and where no other property
owners receive a special benefit thereby, the Planning Board may recommend
to the governing body that it require the subdivider or developer,
as a condition for subdivision approval at the subdivider's or developer's
expense, to acquire lands outside of the subdivision or tract and
improve and dedicate such lands to the township or the county or,
in lieu thereof, require the subdivider or developer to deposit with
the township a sum of money sufficient to allow the municipality to
acquire and improve such lands.
The permitted and required guarantees and regulations relating thereto are set forth in Chapter
103.
All moneys paid by a subdivider or developer
pursuant to this chapter shall be paid over to the Chief Financial
Officer of the township, who shall provide a suitable depository therefor.
Such funds shall be used only for the improvements for which they
are deposited or improvements serving the same purpose.
Upon completion of off-tract improvements required
pursuant to this Article, the subdivider's or developer's liability
hereunder shall be recalculated in accordance with the actual, as
compared with the estimated, cost of the improvements. To the extent
that it shall decrease the amount thereof, the municipality shall
forthwith refund the amount of such decrease to the subdivider or
developer. In cases where improvements are specially assessed against
all benefited properties, recalculation shall be made by the municipal
assessing authority in the course of the special assessment proceedings.
In other cases, it shall be made by the Municipal Engineer.
All estimates required to be made by the Planning
Board for off-tract improvements herein shall be reviewed and approved
by the governing body prior to final action thereon.