The Township of Belleville shall establish a fund dedicated to the acquisition, development, expansion or capital repair of public and municipal parking facilities, traffic or transportation related capital projects, the providing or operation of transit facilities designed to reduce the reliance on private automobiles, programs to facilitate carpooling or ridesharing and creating a consistent street scape for all user groups utilizing all modes of transportation by introducing context-sensitive design elements at intersections and corridors such as parking meters, wayfinding signs, kiosks, trails, sidewalks, crosswalks, streets and similar improvements that connect users to public and municipal parking facilities through the Township. The proceeds of such funds shall not be considered part of the municipal general fund.

The recent establishment and opening of the Silver Lake Light Rail Station has provided new mass transit opportunities for the Township residents and work force. The Township is implementing smart growth techniques and increasing development densities around the train station. The station also has the potential to lower the demand for private vehicular parking around the station. The Township seeks to test this area to permit a lower amount of required parking spaces associated with development within the Silver Lake Districts which is approximately within 1/4 mile of the Light Rail Station.

Within a the Silver Lake Station district, with the exception of the Silver Lake Hospital District, a developer may satisfy the off-street parking requirements found elsewhere in this chapter by means of payment in lieu of construction of the parking spaces. Such as payment in lieu of construction shall be made to the Township's dedicated parking fund. The payment in Lieu of parking shall be $15,000 per space. All parking associated with units that are deeded affordable per HUD for Essex County income standards for a minimum of 10 years shall pay 50% ($7,500) of the fee per space. The funds collected shall be used only for improvements within the Silver Lake District.

In the future, the Township of Belleville shall also undertake a parking study to determine where demand is high and additional parking, transit and pedestrian services are needed for the areas within the B-G Zone located along the Washington Avenue commercial corridor for inclusion in the parking fund service area. If extended to the Washington Avenue Commercial Corridor, the funds collected from the Washington Avenue corridor shall only be used for improvements within the designated corridor area.