Chesterfield Township
City Zoning Code
City Zoning Code
ARTICLE XVII
Voluntary TDR Program Procedural Requirements
§ 130-128 Allocation and transfer of developments rights.
A.
Generally. This section sets forth the eligibility standards and credit allocations made of development potential to various parcels of land within the Township of Chesterfield and is authorized pursuant to N.J.S.A. 40:55D-113 et seq. and the Master Plan of Chesterfield Township.
B.
Program eligibility. A parcel's eligibility for inclusion under the TDR program is described in the allocation plan which is attached to this chapter and made a part of it by reference. (Chart 1 and 2.)[1]
[1]
Editor's Note: Said items are on file in the Township offices.
C.
Minimum eligibility criteria. The minimum eligibility criteria for participation in the TDR program are:
(1)
Sending area. A primary purpose of the Chesterfield TDR program is to conserve the rural, predominantly agricultural resources of the Township. Accordingly, the program criteria for participating in the sending area are as follows:
(a)
The parcel is located within the AG Agricultural District outside of the receiving area as amended and as identified on the Land Use Plan of the Chesterfield Township Master Plan adopted October 28, 1997, (see Plan A[2]) provided that:
[Amended 9-27-2001 by Ord. No. 2001-22; 3-14-2002 by Ord. No. 2002-1]
[1]
Parcels identified on the Land Use Plan of the Township of Chesterfield Master Plan may be increased in size to support agricultural use of the property without eliminating the parcels' eligibility for credits. Additional credits for the lands added which have not been enrolled prior to their addition to an existing lot may be obtained by following the credit allocation appeal process outlined in § 130-130 below.
[2]
Parcels which have not been enrolled within the TDR program may be decreased in size to support the use of a portion of the property for facilities needed for local ("utility portion") without eliminating the eligibility for credits of the remaining parcel ("remainder") so long as the remainder is enrolled in the TDR program within 90 days of the date the utility use is approved by the Planning Board. The number of credits assigned to the remainder shall be established by deducting from the total credits originally assigned to the entire parcel that number of credits assigned to the utility portion by following the credit allocation appeal process outlined in § 130-130 below, provided that there shall be a minimum loss of one credit in any such situation. The term "local or regional utility service" shall include only utility companies which enjoy the power of eminent domain.
[2]
Editor's Note: Plan A is on file in the Township offices.
(b)
The parcel must be at least 10 acres in size on the date that the ordinance is adopted.
(c)
The parcel must not be deed restricted from further subdivision or further development, except nothing set forth above shall affect the credits created by the County of Burlington under its Farm Land Preservation Program and the right to use these credits in the receiving area. Land(s) restricted from development by action of the County of Burlington shall have the same development potential assigned to said land(s) under this TDR program. This credit potential may be realized by filing a deed of enrollment dedicating the lands to the TDR program. Upon recording of the deed of enrollment pursuant to § 130-132, credits equal to those assigned to the parcel under the TDR program shall be created and a certificate attesting to this fact issued by the Township Clerk as would be the case with any other parcel dedicated to this program. Thereafter, these credits may be assigned and extinguished in the same manner as all other credits created under the program.
[Amended 7-26-2001 by Ord. No. 2001-17; 12-13-2007 by Ord. No. 2007-23]
(d)
The property which shall become the subject of the deed of easement, restriction and enrollment shall contain general reservation language for future rights-of-way and easement areas that may be needed for county and municipal infrastructure improvements, such as future road and drainage improvements, which areas shall be exempted from the restriction against future development required under this chapter.
(e)
Since as a condition to participation within the TDR program the land enrolled must be deed restricted to agricultural uses consistent with the requirements of the state agricultural acquisition standards (see: N.J.S.A. 4:1C-11, et. seq.), any site which develops or is approved for development for uses inconsistent with these deed restrictions shall be deemed ineligible to participate in the program. The tract in existence on October 28, 1997, would be incapable of being deed restricted.
[Amended 12-27-2002 by Ord. No. 2002-15]
(2)
Receiving area. The only criteria for participating in the receiving area is that the parcel is located within the boundaries of the receiving area as amended and as identified on the Land Use Plan of the Chesterfield Township Master Plan, adopted October 28, 1997. (See Plan B.[3]) Should the Approving Authority grant a use variance increasing the development potential of a parcel not in the receiving zone by more than 5%, that parcel shall constitute a receiving zone and the provisions of this chapter for parcels in the receiving zone shall apply with respect to the development potential required to implement that variance.
[3]
Editor's Note: Plan B is on file in the Township offices.
(3)
Plans. The locations within the Township of the sending and receiving areas are set forth on Plans A and B which are attached to this chapter and made a part of it by reference (Plans A and B)[4].
[4]
Editor's Note: Plans A and B are on file in the Township offices.
§ 130-129 Credit allocation.
A.
General principals.
(1)
Pursuant to N.J.S.A. 40:55D-114, a TDR program must seek to transfer the development potential from areas where preservation is most appropriate to areas where growth can be better accommodated and maximized.
(2)
Pursuant to N.J.S.A. 40:55D-115, "development potential" is defined as "the maximum number of dwelling units or square feet of nonresidential floor area that could be constructed on a specified lot or in a specified zone under the Master Plan and land use regulations in effect on the date of the adoption of the development transfer ordinance and in accordance with recognized environmental constraints." Therefore, the Chesterfield Township TDR credit allocation formula seeks to closely estimate the number of dwelling units which could have bene build on each eligible parcel given the base zoning density as set forth for the AG Agricultural District, Section 301 of the Chesterfield Township Zoning Ordinance, which zoning is replaced by the adoption of this chapter and the environmental constraints present.
(3)
The underlying AG Agricultural District zoning requires the use of individual septic tanks for sewage disposal. Accordingly, it has been determined that it is the suitability of soil for septic tank permitting which most directly indicates the development potential of the land and therefore will act as the basis upon which transferable development rights (TDR's) or credits are allocated.
(4)
The standard source of information related to the septic suitability of soils located in Burlington County is the USDA Soil Conservation Service (SCS) soil survey (survey). The SCS survey characterizes soil based on numerous factors, one of which is the disposal of septic effluent. The combination of the soils' characteristics result in a septic suitability rating of slight, moderate or severe.
(5)
The data source utilized for the allocation of development rights is the integrated terrain unit (ITU) data generated by the New Jersey Department of Environmental Protection (NJDEP), of which a primary base layer of information is the SCS soil survey data.
B.
Credit allocation formula:
[Amended 7-26-2001 by Ord. No. 2001-17]
TDR Credits = | (No. of Acres of + | (No. of Acres of + | (No. of Acres of - | x 1.1 | |
|---|---|---|---|---|---|
Slight Soils | Moderate Soils | Severe Soils | |||
Allocated | 2.7 | 6 | 50 |
(1)
The product of the above formula is then rounded down to the nearest one-fourth credit to equal the TDR credit allocation.
(2)
The TDR credit allocation incorporates a ten-percent bonus factor as an incentive for landowners in the sending area to transfer their units rather than construct units on the site.
C.
Allocation plan. All parcels eligible for participation in the Chesterfield TDR program as set forth in the Master Plan have been identified and a computation of the TDR credits allocated pursuant to the credit allocation formula has been completed. The information is contained in the allocation plan, which is incorporated within this chapter by reference.
D.
Procedure. Upon the adoption of this chapter, the Township Clerk shall file with the County Recording Office a copy of the allocation plan and Zoning Map showing graphically the location of the Township's sending and receiving zones. A change in the credit allocation made by the allocation plan by appeal, assignment or transfer to be effective must similarly be recorded in the County Recording Office.
§ 130-130 Credit allocation appeal process.
A.
Purpose. Any landowner eligible for participation in a TDR program who is dissatisfied with their credit allocation may appeal their allocation in accordance with the procedures set forth below.
B.
Timing. Any appeal of a credit allocation must occur prior to the recording of a TDR easement. Once a property is restricted through the recording of the TDR easement, the opportunity for an allocation appeal is lost and the parcel's owner shall be irrefutably presumed to have elected to accept the allocation given as an appropriate measure of the development potential of the parcel.
C.
Procedure. There are two methods which can be used to appeal the allocation. One relies on the submission of a soils decryption of the subject property prepared by the Natural Resource Conservation Service (NRCS). The second requires the submission of a conceptual plan of development accompanied with representative soil borings. Each is designed to establish a parcel's development potential. The parcel's owner may determine which method to utilize.
(1)
Soil descriptions. In order to appeal a credit allocation based on soil descriptions, a landowner must procure a revised soil description of the subject property from a licensed soil scientist. Such a soil description shall be verified by the Burlington County Natural Resource Conservation Service (NRCS). The description must include the following information:
(a)
Landowner's name(s) and address(es).
(b)
Parcel block and lot number(s).
(c)
Total parcel acreage (sources may include a Tax Map or property survey).
(d)
Delineation of the subject parcel on the Tax Map and appropriate map from the Burlington County Soil Conservation Service (SCS) soil survey.
(e)
A description of the soils present on the property listed by soil name and total acreage of each soil type.
(f)
A classification of each soil type by acreage into the SCS categories of slight, moderate and severe septic limitations.
(g)
A recalculation of credit allocations pursuant to the credit allocation formula set forth in § 130-129B of this section.
(h)
The name and signature of the soil scientist who prepared the soils description, the date the soil description was prepared and the date, name and signature of the NRCS soil scientist who verified the findings of the soils described.
(2)
Conceptual subdivision plan. In order to appeal a credit allocation utilizing a development plan, a landowner may prepare a conceptual subdivision plan for the subject parcel. The subdivision plan is prepared to demonstrate that the number of residential units which could have been constructed on the subject parcel exceeds the number of TDR credits allocated to the property. Such a conceptual plan shall consist of the following information.
(b)
A copy of the map described in § 130-130C(2)(a) above, upon which the following information has been added:
[1]
A layout of a hypothetical subdivision, with an overall density of 2.7 acres per unit, provided that 50% of the tract is reserved for agricultural purposes. The overall density of 2.7 acres per unit accounts for the allowance of 10% of the acreage of one-acre lots, with the balance of the tract developed at 3.3 acres/unit, provided at least 50% of the tract is preserved for agricultural purposes.
[Amended 12-31-2003 by Ord. No. 2003-15]
[2]
The acreage of each subdivided parcel.
[3]
The location for soil boring performed.
[4]
The dimension (width and length) of internal roads.
(c)
Soil borings. Representative soil borings must be submitted to demonstrate the viability of using septic tanks for the hypothetical development. Prior to performing any soil borings, a plan shall be submitted and approved by the Board Engineer. Soil borings performed to meet this standard shall comply with the following criteria:
[1]
Soil borings must be performed on a minimum of 30% of the subdivided lots created by the hypothetical development spaced evenly apart within the subdivision or one per every five acres, whichever results in a smaller number of borings.
[2]
The soil boring must reach a minimum depth of five feet.
[3]
The soil borings must be performed by a New Jersey licensed soils scientist or a professional engineer.
[4]
A report summarizing the findings of the soil borings must be prepared.
[5]
A certification signed by the person performing the tests and writing the report which certifies to the accuracy of the soil borings and other data contained in the report shall accompany the report.
§ 130-131 Steps in credit allocation appeal process.
A.
Notice of appeal. The parcel owner shall submit a properly completed notice of appeal and required application and review fees to the Planning Board Secretary. The notice on forms approved by the Township Planning Board shall include the following information:
(1)
Date of appeal.
(2)
Name(s) and mailing address(es) of all property owners.
(3)
Copy of the latest deed to the property.
(4)
Block and lot number(s) of parcel(s).
(5)
Acreage of parcel(s) pursuant to Tax Map or property survey.
(6)
Number of TDR credits allocated to the parcel(s) pursuant to the allocation plan.
(7)
Number of TDR credits the landowner is requesting as yielded under the appeal provided.
(8)
Supporting documentation which fulfills the requirements of the selected appeal methodology set forth in § 130-130C above.
(9)
Signature of all property owners.
B.
Review by Planning Board engineers. The Planning Board Secretary shall forward the notice of appeal and all related information to the Planning Board Engineer. The Engineer shall review the submission for accuracy and compliance with the requirements set forth herein. The Engineer will advise the Planning Board of his findings.
C.
Planning Board action.
(1)
The Planning Board at a regular or special meeting shall, after giving due consideration to the Engineer's report and any additional information which the parcel owner or others wish to submit, grant the appeal if the parcel owner's proof demonstrates that the parcel on the date of this section's adoption had a development potential stated in credits greater than that originally allocated. Otherwise the application should be denied. Public notice of the meeting shall not be required.
(2)
The Planning Board shall take action on the appeal if all required documents are submitted within 120 days of receipt of the notice of appeal by the Planning Board Secretary, unless this time period is extended by the applicant.
(3)
Should the Planning Board approve the appeal, it will so direct the Secretary to amend the allocation plan to reflect the number of credits approved.
§ 130-132 TDR creation, transfer and use.
A.
Declaration of enrollment. A landowner seeking to enroll his land within the TDR program and thus create credits which may thereafter be transferred shall follow the following procedures:
(2)
The administrative officer shall, within 95 days of receipt, determine that the application:
(a)
Accurately specifies the number of TDR credits available to the parcel.
(b)
Covers a parcel of land eligible for inclusion within the TDR program.
(c)
Accurately sets forth the block and lot description of the parcel seeking enrollment.
(d)
Reserves sufficient credits for the existing and proposed uses on the site.
(e)
Contains all other information required by the enrollment form.
(3)
The administrative officer, upon receipt, shall forward to the Board Solicitor for review:
(a)
One copy of the enrollment application.
(b)
The original and one copy of the TDR easement.
(c)
Clear proof of title.
(d)
A copy of each of the foregoing documents shall also be sent by the administrative officer to the Burlington County Planning Board so that the Board can determine the nature and extent of any areas which should be withheld from the easement for future infrastructure purposes. The County Planning Board shall have 14 days from receipt of the same to advise the administrative officer and Board Solicitor of its concerns and comments.
(4)
The Board Solicitor shall determine within 14 days of receipt that:
(a)
The TDR easement is in a proper legal form for recording in the County Clerk's office.
(b)
The applicant for enrollment holds legal title clear of any encumbrances to the parcel or that the holder of any lien, mortgage or other interest has agreed in writing to subordinate their interest in the parcel to the public interests set forth in the TDR easement.
(5)
Upon determining the facts set forth in § 130-132A(4) above, the Board Solicitor shall certify to these facts by:
(6)
Upon return of the original TDR easement signed by the Board Solicitor, the administrative officer shall:
(a)
Assign serial numbers to each TDR credit sought to be created.
(b)
Sign the TDR easement form, certifying that the application procedures required by this chapter have been followed and that, upon proper recording of the TDR easement, the parcel will contain the number of transferable credits specified within the certification, provided that the TDR easement is recorded within 90 days from the date that the certification is signed. If unrecorded, the enrollment shall be null and void and the landowner must reapply.
(c)
Return the original and signed TDR easement to the Board Solicitor for recording. The Township will record the easement.
(7)
If the administrative officer or Board Solicitor shall fail to act within the time periods specified, unless these time periods are extended by the applicant, the application shall be deemed denied.
(8)
After the TDR easement has been recorded, the landowner shall file proof of the recording with the administrative officer prior to the approval of any transfer of any transfer of any credit created under the easement.
(9)
Upon receipt of proof that a TDR easement has been recorded, the administrative officer shall:
(10)
A landowner shall be responsible for all costs associated with the review of the enrollment application, including professional fees authorized by the ordinance.
(11)
The administrative officer shall act on all applications submitted in order in which they are submitted.
B.
TDR credit assignment. A landowner against whose land a TDR easement has been recorded may assign any of the credits created through the use of the following procedures:
(1)
The landowner, on forms authorized by the Planning Board and obtained from the Township Clerk, shall submit to the administrative officer for review:
(2)
The administrative officer, within 95 days, shall determine that the application:
(a)
Contains all of the information required by the form.
(b)
Seeks to assign no more than the maximum number of credits available and not already assigned or extinguished.
(c)
Provides the recording information about the TDR easement.
(d)
Accurately reflects the information contained in it.
(e)
Reflects no material change in the title of the parcel has occurred since the TDR easement was recorded.
(3)
If the administrative officer determines that the application and supporting documentation establishes the criteria set forth in § 130-132B(2) above, the administrative officer shall sign the assignment, certifying that upon recording the assignment will transfer the number of credits contained within it to the party named, provided that if the assignment is not recorded within 90 days of the date that the certification is signed, unless this time period is extended by the applicant, the assignment shall be null and void.
(4)
If the administrative officer shall fail to act within the time period provided, the application shall be deemed denied.
(5)
Upon signing, the assignment shall be returned to the landowner for recording.
(6)
The assignee of the credits shall, upon filing of the assignment, file proof of recording with the administrative officer prior to the approval of any credit use.
(7)
Upon receipt of proof that the assignment has been recorded, the administrative officer shall:
(8)
A landowner shall be responsible for all costs associated with the review of the assignment application, including professional fees authorized by the ordinance.
(9)
The administrative officer shall act on all applications in the order in which they are received.
C.
TDR residual credits on lands within the receiving area. At the time a final plan for the first section of an approved subdivision plan is signed by representatives of the Township or the signing of an approved plan by the Municipal Engineer of a final site plan which utilized or effects, in the opinion of the Board solicitor, the operation of the TDR program in the receiving area, the person or entity submitting the application for development cited shall record against the land to be developed a deed of dedication on forms approved by the Township of Chesterfield which dedicate the entire site for use in the TDR program. The residual credits existing on the land covered by the development shall be deemed created only upon the filing of the deed of dedication cited. Filing the deed of dedication shall entitle the land owner to use the credits created on the land effected by the application of development at the density or for the uses permitted by the TDR provisions of this chapter. Until the deed of dedication is recorded, the land is subject to the density and use restrictions otherwise controlling within the district.
D.
TDR credit use; extinguishment. An owner or developer of land located within the receiving zone may utilize credits held by a landowner of land located within a sending zone or his assigns to increase the number of units that may be developed by utilizing the following procedures:
(1)
The owner/developer of land within the receiving zone must first obtain final approval for the development of a project within the receiving zone contingent and conditioned on the acquisition and extinguishment of TDR credits.
(2)
To meet the condition of approval, the owner/developer, at or prior to the signing of a subdivision plat or the issuance of the first building permit, whichever occurs first, on forms approved by the Planning Board and obtained from the Township Clerk, shall submit to the administrative officer.
(3)
The administrative officer shall, within 95 days of receipt, determine that the application:
(a)
Accurately specifies the number of TDR credits need for the development of the parcel sought to be developed.
(b)
Demonstrates that the developer owns, by assignment or otherwise, all credits needed for the proposed development.
(c)
Accurately specifies by reference to assigned serial numbers or otherwise which credits are being used by the development.
(d)
Accurately provided such other information required by the application.
(e)
Demonstrates that the parcel from which the credits arise are subject to a recorded TDR easement.
(4)
If the administrative officer determines that the application and supporting documentation establishes the criteria set forth in § 130-132D(3) above, the administrative officer shall sign the deed of credit transfer, certifying that upon recording the deed of credit transfer will permanently transfer the number of credits contained within it to the parcel of land cited, provided that if the deed of credit transfer is not recorded within 90 days of the date that the certification is signed, unless this time period is extended by the applicant, the deed of credit transfer shall be null and void.
(5)
If the administrative officer shall fail to act within the time periods provided, the application shall be deemed denied.
(6)
Upon signing, the deed of credit transfer shall be returned to the Board Solicitor for recording.
(7)
The owner or developer of the land using the credits shall, upon filing of the deed of credit transfer, file proof of recording with the administrative officer prior to the issuance of any building permit for development of the land upon which the credit is to be used.
(8)
Recording the deed of credit transfer shall extinguish the ability to use any credit transferred except upon the parcel to which the TDR credit has been transferred.
(9)
Upon receipt of proof that the deed of credit transfer has been recorded, the administrative officer shall:
(10)
A landowner shall be responsible for all costs associated with the review of the assignment application, including professional fees later authorized by the ordinance.
(11)
The administrative officer shall act on all applications in the order in which they are received.
(12)
Any person, firm or entity who purchases or otherwise acquires, encumbers or utilizes any development potential under this chapter shall record that fact with the State Transfer of Development Rights Bank Board of Directors and shall do so within 10 business days thereof, pursuant to N.J.S.A. 4:1C-53, Subdivision b.
§ 130-133 Reassignment and disenrollment.
A.
Generally. It is understood that the Transfer Development Rights Program is voluntary. The Master Plan and Zoning Ordinance provide a reasonable balance between the number of credits which are allocated to the sending area and the capacity of the acreage within the receiving area to accommodate transferred credits; however, if a number of landowners/developers within the receiving area elect to subdivide their land without the use of credits, it is conceivable that more credits capable of being transferred will have been created than available locations for their receipt. Recognizing the inherent unfairness which may be visited upon a property owner in the sending zone or his assignee should property be enrolled within the program without there being in existence an adequate area within the receiving zone to utilize the credits so created, this subsection has been created to provide relief.
B.
Standard. Should a landowner or his assignee owning a parcel of land enrolled within a TDR program determine that they have an inability to utilize credits within the receiving zone, they may apply to the Planning Board for reassignment of the credits to the parcel from which they originated or disenrollment of the parcel from the TDR program upon the showing of good cause in accordance with the procedures set forth below.
C.
Procedures for reassignment and disenrollment.
(1)
Reassignment. An assignee seeking to reassign any of the credits which have previously been assigned by a landowner may seek to reassign the credits obtained, absent any bonus, back to the parcel from which they originated by using the following procedures:
(a)
The assignee on forms authorized by the Planning Board and obtained from the Township Clerk shall submit an original and two copies of the application for reassignment, an original and two copies of the reassignment document and appropriate review fees to the administrative officer for review.
(b)
The administrative officer, within 15 days, shall determine that the application:
[1]
Contains all of the information required by the form.
[2]
Seeks to reassign all or a portion of the credits, absent any bonus, previously assigned to the assignee back to the parcel from which the credits came.
[3]
Provides the recording information about the TDR easement and original assignment.
[4]
Reflects that no material change in the title of the parcel has occurred since the TDR easement and assignment were recorded.
(c)
If the administrative officer determines that the application and supporting documents are complete, this official shall schedule the matter for a hearing before the Planning Board at its next regular or special meeting called for this purpose.
(d)
The Planning Board shall at the regular or special meeting during which the matter is considered, conduct a hearing on the application. If the Planning Board determines, after considering all evidence submitted both in favor of and opposing the application, that, through an inability to use the credits within the receiving zone or through other just cause, it is not feasible to expect that the credits will be usable within a reasonable time frame and both the assignee and the landowner agree to a reassignment of the credits, the Board shall grant the assignee the right to reassign the credits provided. Otherwise the application should be denied. Public notice of the meeting shall not be required.
[1]
The Planning Board shall take action on the application within 95 days of its receipt by the Planning Board Secretary. If the Planning Board fails to act, the application shall be deemed denied.
[2]
Should the Planning Board approve the application, it will direct its Chairman and Secretary to certify to this fact on the original reassignment document which is to be delivered to the applicant for recording. The reassignment document is to be extended within 90 days from the date that the certification is filed, unless this time period is extended by the applicant. If unrecorded, the appeal of the reassignment shall be null and void and the assignee must reapply to obtain relief.
(e)
The assignee, upon recording the reassignment document, shall file proof of the recording with the administrative officer. Until such proof is filed, reassignment of the credits shall be ineffective.
(f)
Upon receipt of proof that a TDR easement has been recorded, the administrative officer shall:
(2)
Disenrollment. A landowner to disenroll his land from involvement with the TDR program is to follow the following procedures:
(a)
The landowner, on forms authorized by the Board and obtained from the Township Clerk, shall submit to the administrative officer:
[1]
The original and two copies of a fully completed disenrollment application.
[2]
Review fees.
[3]
The original and two copies of the disenrollment document designed to terminate the restrictions imposed upon the landowner's property.
[4]
Clear proof of title.
[5]
Proof that none of the credits created for the property by enrollment have been used by another property owner or developer through the filing of a deed of credit transfer or assigned to a third party who does not consent to the disenrollment application.
(b)
The administrative officer shall, within 95 days of receipt, determine that the application is complete.
(c)
Upon determining that the application is complete, the administrative officer shall schedule a public hearing before the Planning Board on notice to the public and to the Burlington County Land Use Office. At this hearing, the Planning Board shall determine whether a hardship exists to the landowner through an inability to utilize his credits within the receiving zone or for other good and sufficient reasons the public's interest would be served by allowing relief from the restrictions imposed under the TDR program. In reaching this conclusion, the Planning Board shall take into consideration all evidence, both submitted in favor of and in opposition to the relief required, in accordance with the procedures normally available for development applications before the Board. After this review, the Board shall reduce its findings to a written resolution recommending to the Township Committee whether to grant or deny the application proposed. If the Board fails to act within 90 days of the date the application is submitted, unless this time period is extended by the applicant, the application shall be deemed denied.
(d)
If the application is approved, the record before the Board, including its findings, shall be submitted to the Township Committee and to the applicant. The Township Committee shall review the proceedings before the Planning Board and determine whether good cause exists for the relief specified. If they agree that the relief should be granted, they shall direct the Mayor and Township Clerk to execute the disenrollment document. Upon execution by the Mayor and Clerk, approval to disenroll shall be denied and the applicant shall be required to reapply if relief is to be obtained.
(e)
Upon receipt of proof of recording of the disenrollment document, the administrative officer shall:
(f)
The assignee and/or landowner seeking either reassignment or disenrollment shall be responsible for all costs associated with the review of the reassignment or disenrollment, including professional fees authorized by this chapter.
(g)
The assignee and/or landowner may extend the time limits for administrative action by the administrative officer or by the Board. This right to extend shall not apply to any time period set forth in this chapter for recording of a document.
§ 130-134 Development credit bank.
A.
Authorization. The Township Committee is hereby authorized to enter into an agreement with the Board of Freeholders of Burlington County to utilize the County Development Credit Bank to facilitate the marketing of development credits between owners of land with credit allocations and the owners of land where credits may be used.
B.
Purpose. The use of public funds to purchase development credits for resale is deemed to be a public purpose, to facilitate the permanent preservation of lands for agriculture in the sending zone.
C.
Minimum standards. Except where the provisions of this section are waived by the Township Committee for the best interest of the Township, the agreement utilizing the County Development Credit Bank must contain the following minimum standards:
[Amended 7-26-2001 by Ord. No. 2001-17]
(1)
The County of Burlington shall provide funds at least equal to any contribution by the Township of Chesterfield. The Township may, however, choose to acquire development credits with 100% municipal funding in the case of an emergency acquisition.
(2)
A policy for the acquisition of development credits under certain hardship conditions shall be adopted by the bank in order to allow for the prioritization of all applications for the purchase of development credits.
(3)
The bank shall establish a policy which provides for the use of development credits as collateral for loans, such that the TDR Credit Bank may act as a guarantor of commercial farm loans based on the established value of the development credits.
(4)
The bank shall be empowered to purchase, with existing moneys available, any and all development credits created in accordance with this chapter.
(5)
Upon the sale of any development credits acquired by the County of Burlington for use in the receiving area, the county's proportionate contribution shall be returned to the county immediately for further allocation to the bank or other use.
(6)
In the event that any credits are sold by the bank at a price higher than paid for them, the county shall be entitled to those funds in proportion to its total contribution to the initial costs in acquiring the credit in comparison to the contribution of other contributing entities.
(7)
The bank shall be empowered to lend or guarantee loans from commercial banks on a nonrecourse basis to landowners who have voluntarily elected to participate in the TDR program utilizing development credits as the collateral for these loans. For these loans, interest should be set at below market rates, with loan-to-value ratios of at least 70% and principal to be repaid out of the proceeds of the sale of the development credits pledged as collateral.
(8)
The bank shall be empowered to purchase development credits from landowners who have voluntarily elected to participate in the TDR program. The price at which the bank may purchase these credits shall be initially established by the board of the bank. The price, however, shall thereafter vary from time to time based upon market conditions. Once a sale has occurred between a landowner and a third party (other than the bank) in an arm's-length transaction with neither party under duress to buy or sell, then the price established by that sale and thereafter whatever price is established by the most recent such sale, shall be the information which the bank examines to determine the price at which the bank shall purchase credits and/or evaluate credits as collateral for bank loans.
(9)
The bank shall be empowered to sell development credits after it has acquired them, but said sales may occur only after it is demonstrated that there exists a significant demand for credits which is not being satisfied by the landowners holding development credits. The intent and purpose of this provision is to eliminate the bank as a competitor of the landowners in the bidding process and sale of development credits. The price at which the bank may sell its credits may be established by its Board of Directors, from time to time, or be established by the sale of credits through the receipt of sealed bids; however, the purpose of the bank shall be to maximize the value of these development credits.
(10)
To assure the availability of bank assistance to all landowners on a fair and equitable basis, the bank may limit the funds used by it to acquire development credits, to loan to landowners and/or to guarantee loans to landowners from commercial banks, based on the following formula: The total funds currently available to the bank shall be divided by the then-current purchase price of a development credit required to be paid by the bank to establish the maximum number of credits which the bank could then potentially acquire. Said number shall then be divided by the maximum number of potential development credits that are available from lands that have voluntarily agreed to participate in the TDR program and which have not yet been used for development. The resulting percentage shall then be applied to the number of credits owned by the landowners seeking assistance from the bank to establish the maximum number of credits that the bank may acquire or accept as collateral for a loan from that landowner.