[HISTORY: Adopted by the Mayor and Council of the Borough
of Somerdale 7-10-2008 by Ord. No. 2008:03. Amendments noted
where applicable.]
A.
In the event that a private party is required as part of a development
approval by the Borough of Somerdale to construct a public improvement
and that public improvement may in the future create a benefit for
another private party's development project, the original developer
of the public improvement will be entitled to a pro rata reimbursement
of the costs of the public improvement by the subsequent private party.
B.
In order to take advantage of the reimbursement provided for herein,
the original developer shall, upon completion of the public improvement,
file with the Borough Clerk, the Borough's Planning Board Secretary
and the Borough Engineer a detailed statement as to the expenses directly
incurred in the construction of the public improvement. These expenses
shall include only expenses directly and solely incurred as a result
of the public improvement.
C.
At the time of any subsequent development subject to municipal approval
which will benefit from the public improvement, the approving agency
will impose, as a condition of that approval, a requirement that the
subsequent private developer reimburse the original private developer
a percentage of the expenses incurred based upon the benefit to be
gained by the subsequent developer.
