The application charge is a flat fee to cover administrative expenses. The escrow account is established to cover the cost of professional services including but not limited to engineering, planning, legal, traffic and other expenses associated with the review of the submitted materials. The Borough shall make all of the payments to professionals for services rendered to the Borough for review of applications for development, review and preparation of documents, inspection of improvements or other purposes pursuant to the Municipal Land Use Law. Such payments shall be made from the applicant's deposit in the escrow account.

The payments charged to the escrow deposit shall be pursuant to vouchers from the professionals stating the hours spent, the hourly rate and the expenses incurred. The Borough Chief Financial Officer shall render a written final accounting to the developer on the uses to which the deposit was put. Thereafter, the Borough Chief Financial Officer shall, upon written request, provide copies of the vouchers to the developer. If the salary, staff support and overhead for a professional are provided by the Borough, the charge to the deposit shall not exceed 200% of the sum of the products resulting from multiplying the hourly base salary of each of the professionals by the number of hours spent by the respective professional on review of the application for development of the developer's improvements, as the case may be. For other professionals, the charge to the deposit shall be at the same rate as all other work of the same nature by the professional for the Borough.

Sums not utilized in the review process shall be returned to the applicant no sooner than 45 days after approval by the Board of the final resolution. When the escrow is depleted to 35% of the original amount required or less, the applicant shall be notified and shall, within 15 days, replenish the account to 100% of the original escrow deposit required plus pay all unpaid costs. If the escrow balance is inadequate to cover professional fees, the Board shall not continue with the application proceedings until the escrow account is replenished.

Whenever an amount of money in excess of $5,000 is deposited by an applicant for the services of professionals employed by the Borough to review applications for development, for inspection fees or to satisfy performance or maintenance requirements, the money, until repaid or applied to the purposes for which it is deposited, including the applicant's portion of the interest earned thereon, except as otherwise provided herein, shall continue to be the property of the applicant and shall be held in trust by the Borough. Money deposited shall be held in escrow. The Borough shall deposit it in a banking institution or saving and loan association in this state insured by an agency of the federal government, or in any other fund or depository approved for such deposits by the state, in an account bearing interest at the minimum rate currently paid by the institution or depository on time or savings deposits. The municipality shall notify the applicant in writing of the name and address of the institution or depository in which the deposit is made and the amount of the deposit. The municipality shall not be required to refund an amount of interest paid on a deposit that does not exceed $100 for the year. If the amount of interest exceeds $100, that entire amount shall belong to the applicant and shall be refunded to him by the municipality annually or at the time the deposit is repaid or applied to the purposes for which it was deposited, as the case may be; except that the municipality may retain for administrative expenses a sum equivalent to no more than 33 and 1/3% of that entire amount which shall be in lieu of all other administrative and custodial expenses.

No final major subdivision plat shall be recorded unless either the Borough Engineer has certified to the Board that all public improvements required by the preliminary subdivision approval have been satisfactorily completed, or the developer has entered into a developer's agreement with the Borough, in a form satisfactory to the Borough Attorney and authorized by the Borough Council, requiring the installation and maintenance of the public improvements by the developer and its successors in interest, imposing such limitations, and/or staging of, the development of the subdivision as necessary to ensure orderly construction of the public improvements, and assuring the installation of the public improvements on or before an agreed date by the filing of a performance guarantee in accordance with § 145-702D below.

No construction permit shall be issued for any building within the proposed lots until the developer has completed the following public improvements in accordance with the approved subdivision plans and construction plans required by § 145-702E(4) below:

No certificate of occupancy shall be issued for any dwelling within the proposed lots until the driveway and apron, sidewalk, trees and grass for that particular dwelling have been installed and/or planted as approved by the Borough Engineer. Upon recommendation of the Borough Engineer to the Construction Official, a temporary certificate of occupancy not to exceed six months in duration may be issued if seasonal conditions would make planting unreasonable.

Such public improvements shall be 100% completed and subject to acceptance by the Borough within two years from the date of final approval, or any extension thereof, or prior to the time a request is made for the last certificate of occupancy for a lot in the subdivision or stage or section thereof, whichever shall occur first.

It is the intention of the Borough Council that the foregoing requirements provide to each owner in the subdivision a lot that is as complete as possible with respect to tract and individual lot improvements and protect the interests of the general public and the residents of the development in the completion of the development.

In the case of a subdivision with final approval by stages or sections, the requirements of this section shall be applied by stage or section to all public improvements within the stage or section and any subsequent improvements in another stage or section which are needed for occupancy of the stage or section which has received final approval.

In accordance with the Municipal Land Use Law, an itemized cost estimate of the improvements covered by the performance guarantee shall be prepared by the applicant's or developer's engineer and received and reviewed by the Borough Engineer. The itemized cost estimate shall set forth all required public improvements as determined by the Board together with the estimated costs to the Borough of completing the improvements and shall be appended to each performance guarantee posted by the obligor, in such form as approved by the Borough Attorney. In the event that other governmental agencies or public utilities will automatically own the utilities to be installed or the improvements are covered by a performance or maintenance guarantee to another governmental agency, no performance or maintenance guarantee shall be required by the Borough of High Bridge for such utilities or improvements. The cost of the installation of improvements for the purposes of this section shall be estimated by the applicant's or developer's engineer and reviewed and approved by the Borough Engineer based on documented construction costs for public improvements prevailing in the general area of the Borough. The developer may appeal the Borough Engineer's estimate to the Borough Council. The Borough Council shall decide the appeal within 15 days of receipt of the appeal in writing by the Municipal Clerk. After the developer posts a guarantee with the Borough based on the cost of the installation of improvements as determined by the Borough Council, he may institute legal action within one year of the posting in order to preserve the right to a judicial determination as to the fairness and reasonableness of the amount of the guarantee.

The developer shall present two copies of the performance guarantee, in an amount equal to 120% for the approved performance guarantee estimate, to the Borough Clerk for approval as to form and execution by the Borough Attorney. The itemized cost estimate prepared by the Borough Engineer shall be appended to each performance guarantee posted by the obligor.

Not less than 10% of the amount of the approved performance guarantee shall be deposited by the developer in cash or certified check with the Borough. The remaining 90% may be in cash, irrevocable letter of credit, or bond. In the event of default, the Borough may proceed against the performance guarantee following written notice to the developer.

An irrevocable letter of credit shall be acceptable if it:

The Borough shall issue its receipt for such deposits and shall cause the same to be deposited in the name of the Borough to be retained as security for completion of all required improvements and to be returned to the applicant on completion of all required work or, in the event of default on the part of the developer, to be used by the Borough to pay the costs of completing all required improvements.

The developer has paid all fees required by this chapter;

The developer has received all other governmental permits and approvals required by the Board's resolution granting subdivision or site plan approval;

The developer has satisfied all conditions of approval required by the Board's resolution granting subdivision and/or site plan approval and all changes required by the Board to the developer's subdivision and/or site plans have been filed with and approved by the Borough Engineer;

The developer's construction plans have been filed with and approved by the Borough Engineer;

The developer has had a preconstruction meeting with the Borough Engineer for the purpose of forecasting and resolving problems that may arise during the course of construction; and

The developer has furnished the Borough the performance guarantee required by § 145-702D.

All site improvements and utility installations for site plans, subdivisions, plot plans and other realty improvements shall be inspected during the time of their installation under the supervision of the Borough Engineer and/or other officials or professionals serving the Borough in order to ensure satisfactory completion. The total cost of said inspections shall be the responsibility of the developer who shall reimburse the Borough for all reasonable inspection fees paid to the Borough Engineer and/or other officials or professionals serving the Borough. Prior to the start of inspections, the developer shall deposit, with the Borough Chief Financial Officer for payment of the inspection costs, a sum equal to 5% of the amount of the costs for the construction of the improvements as set forth in the itemized list prepared pursuant to § 145-702D(1) or $3,000, whichever is greater.

The Borough Engineer's office shall be notified at least five business days prior to the commencement of the following phases of work so that he or a qualified representative may inspect the work:

In no case shall any paving work be done without permission from the Borough Engineer.

Any improvement installed contrary to the plan or plat approved by the Borough shall constitute just cause to void the municipal approval.

Any improvement not installed in compliance with §§ 145-702E, 145-702F(2) and 145-702F(3) hereinabove shall constitute just cause for:

Inspection by the Borough of the installation of improvements and utilities shall not operate to subject the Borough of High Bridge to liability for claims, suits or liability of any kind that may at any time arise because of defects or negligence during construction or at any time thereafter, it being recognized that the responsibility to maintain safe conditions at all times during construction and to provide proper utilities and improvements is upon the owner and his contractor, if any.

Upon substantial completion of all required street improvements (except for the top course) and appurtenant utility improvements, and the connection of same to the public system, the obligor may request of the Borough Council in writing, by certified mail addressed in care of the Borough Clerk, that the Borough Engineer prepare, in accordance with the itemized cost estimate prepared by the Borough Engineer and appended to the performance guarantee pursuant to § 145-702D of this chapter, a list of all uncompleted or unsatisfactorily completed improvements. If such a request is made, the obligor shall send a copy of the request to the Borough Engineer. The request shall indicate which improvements have been completed and which improvements remain uncompleted in the judgment of the obligor. Thereupon, the Borough Engineer shall inspect all improvements covered by the obligor's request and shall file a detailed list and report, in writing, with the Borough Council, and shall simultaneously send a copy thereof to the obligor not later than 45 days after receipt of the obligor's request.

The list prepared by the Borough Engineer shall state, in detail, with respect to each improvement determined to be incomplete or unsatisfactory, the nature and extent of, and remedy for, the state of each completed improvement determined to be unsatisfactory. The report prepared by the Borough Engineer shall identify each improvement determined to be complete and satisfactory together with a recommendation as to the amount of reduction to be made in the performance guarantee relating to the completed and satisfactory improvement, in accordance with the itemized cost estimate prepared by the Borough Engineer and appended to the performance guarantee.

The Borough Council, by resolution, shall either approve the improvements determined to be completed and satisfactory by the Borough Engineer, or reject any or all of these improvements upon the establishment in the resolution of cause for rejection, and shall approve and authorize the amount of reduction to be made in the performance guarantee relating to the improvements accepted, in accordance with the itemized cost estimate prepared by the Borough Engineer and appended to the performance guarantee. This resolution shall be adopted not later than 45 days after receipt of the list and report prepared by the Borough Engineer. Upon adoption of the resolution by the Borough Council, the obligor shall be released from all liability pursuant to its performance guarantee, with respect to those approved improvements, except for that portion adequately sufficient to secure completion or correction of the improvements not yet approved; provided that 30% of the amount of the performance guarantee posted may be retained to ensure completion and acceptability of all improvements.

If the Borough Engineer fails to send or provide the list and report as requested by the obligor within 45 days from receipt of the request, the obligor may apply to the court in a summary manner for an order compelling the Borough Engineer to provide the list and report within a stated time, and the cost of applying to the court, including reasonable attorney's fees, may be awarded to the prevailing party.

If the Borough Council fails to approve or reject the improvements determined by the Borough Engineer to be completed and satisfactory or to reduce the performance guarantee for the completed and satisfactory improvements within 45 days from the receipt of the Borough Engineer's list and report, the obligor may apply to the court in a summary manner for an order compelling, within a stated time, approval of the completed and satisfactory improvements and approval of a reduction in the performance guarantee for the completed and satisfactory improvements in accordance with the itemized cost estimate prepared by the Borough Engineer and appended to the performance guarantee. The cost of applying to the court, including reasonable attorney's fees, may be awarded to the prevailing party.

Any partial reduction granted in the performance guarantee pursuant to this subsection shall be applied to the cash deposit portion of the performance guarantee in the same proportion as the original cash deposit bears to the full amount of the performance guarantee.

If any portion of the required improvements is rejected, the Borough Council may require the obligor to complete or correct such improvements and, upon completion or correction, the same procedure of notification as set forth hereinabove shall be followed.

Nothing herein shall be construed to limit the right of the obligor to contest by legal proceedings any determination of the Borough Council or the Borough Engineer.

If the required improvements are not completed or corrected in accordance with the performance guarantee, the obligor and surety, if any, shall be liable thereon to the Borough of High Bridge for the reasonable cost of the improvements not completed or corrected and the Borough may, either prior to or after receipt of the proceeds thereof, complete such improvements. Such completion or correction of improvements shall be subject to the public bidding requirements of N.J.S.A. 40A:11-1 et seq.

If the Board requires, as a condition of approval of an application for development, the installation of streetlighting on a dedicated public street connected to a public utility, then, upon notification in writing by the developer to the Board and to the Borough Council that the streetlighting on a dedicated public street has been installed and accepted for service by the public utility and that certificates of occupancy have been issued for at least 50% of the dwelling units or 50% of the floor area of the nonresidential uses on the dedicated public street or the portion thereof contained in the section or phase of the development having received final approval, the Borough shall, within 30 days following receipt of the notification, make appropriate arrangements with the public utility for, and assume the payment of the costs of the streetlighting on the dedicated public street on a continuing basis. Compliance by the Borough with the provisions of this section shall not be deemed to constitute acceptance of the street by the Borough.

Such improvements shall have been inspected and shall have received final approval by the Borough Engineer, and the Borough Engineer shall have certified in writing that the improvements are completed and that they comply with the requirements of this chapter and/or the subdivision or site plan approval.

The developer shall have filed with the Borough Council a maintenance guarantee in the amount equal to 15% of the cost of installing the improvements. The maintenance guarantee shall run for a period of two years from the date of final acceptance of the improvement(s) covered. The method of calculation used and the procedures and requirements governing such maintenance guarantee shall be identical to the method of calculation used and the procedures and requirements for the performance guarantee as set forth in § 145-702D except that the maintenance guarantee need not include cash. The requirements for a maintenance guarantee may be waived by the Borough Council if the Borough Engineer has certified that the improvements have been in continuous use for not less than two years from the date the Borough Engineer certified completion of such improvements and that during this time period the owner has maintained the improvements in a satisfactory manner.

One set of black and white "as-built" or record drawings, certified by a New Jersey-licensed land surveyor, shall be submitted to the Borough Engineer for review and approval. Upon receiving the Borough Engineer's approval, the applicant shall submit to the administrative officer three black-and-white prints, a Mylar copy and a CAD-generated file of the drawings appearing on separate layers conforming with the requirements of § 145-608B(1) of this chapter. "As-built" or record drawings shall include the following:

Sanitary sewers. For distribution facilities, including the installation, relocation or replacement of collector, trunk and interceptor sewers and the installation, relocation or replacement of other appurtenances associated therewith, the applicant's proportionate share shall be computed as follows:

Roadways. For street widening, alignment, channelization of intersections, construction of barriers, new or improved traffic signalization, signs, curbs, sidewalks, trees, utility improvements not covered elsewhere, or the construction or reconstruction of new or existing streets and other associated streets or traffic improvements, the applicant's proportionate cost shall be determined as follows:

Drainage improvements. For the stormwater and drainage improvements, including the installation, relocation or replacement of storm drains, culverts, catch basin, manholes, rip-rap or improved drainage ditches and appurtenances thereto and the relocation or replacement of other storm drainage facilities or appurtenances associated therewith, the applicant's proportionate share shall be determined as follows:

Where applications for development suggest the need for off-tract improvements, whether to be installed in conjunction with the development in question or otherwise, the Board shall forthwith forward to the Borough Council a list and description of all such improvements together with a request that the Borough Council determine and advise the Board of the procedure to be followed in construction or installation thereof, including timing. The Board shall defer final action upon the subdivision or site plan until receipt of the Borough Council's determination or the expiration of 90 days after the forwarding of such list and description to the Borough Council without determination having been made, whichever comes first.

The Borough Council, within 90 days after receipt of said list and description, shall determine and advise the Board concerning the procedure to be followed and suggested conditions of approval, if any, to adequately protect the Borough.

In the event that the Board is required by statute to act upon the application prior to receipt of the Borough Council's determination as to construction of off-tract improvements, it shall request that the applicant consent to an extension of time within which to act, of sufficient duration to enable the Borough Council to make the aforesaid determination. In the event that the applicant is unwilling to consent to the requested extension of time, the Board shall, in its discretion, either itself determine the procedure to be followed in constructing the aforesaid improvements, or shall condition its approval upon the subsequent determination of the Borough Council.

In all cases, developers shall be required to enter into an agreement or agreements with High Bridge Borough in regard to off-tract improvements, in accordance with this chapter and any other ordinances, policies, rules and regulations of the Borough of High Bridge, County of Hunterdon, State of New Jersey, and any departments, authorities or agencies thereof.

Where properties outside the subject tract will specifically benefit from the improvements, the Borough Council may require the applicant to escrow sufficient funds, in accordance with § 145-703D hereinabove, to secure the developer's pro rata share of the eventual cost of providing future improvements based upon the standards expressed herein.

Where properties outside the subject tract will benefit from the improvements, the Borough Council may determine that the improvement or improvements are to be installed by the Borough as a general improvement, the cost of which is to be borne as a general expense. If the Borough Council shall determine that the improvement or improvements shall be constructed or installed as a general improvement, the Borough Council may direct the Board to estimate, with the aid of the Borough Engineer or such other persons who have pertinent information or expertise, the amount, if any, by which the total cost thereof will exceed the total amount by which all properties, including the subject tract, will specifically benefit thereby, and the developer shall be liable to the Borough for such expense.

If the Borough Council shall determine that the improvement or improvements shall be constructed or installed as a local improvement, all or a part of the cost of which is to be assessed against properties benefited thereby in proportion to the benefits conferred by the improvements in accordance with Chapter 56 of Title 40 of the Statutes of the State of New Jersey, the developer may be required to sign an agreement acknowledging and agreeing to this procedure, and, in addition, the Borough Council may require that the developer shall be liable to the Borough, in addition to the amount of any special assessments against the subject property for benefits conferred by the improvement or improvements, for the difference between the total cost actually incurred, and the total amount by which all properties, including the subject tract, are specially benefited by the improvement.

If the Borough Council shall determine that the improvements are to be constructed or installed by the applicant, such agreement may contain provisions, consistent with the standards in this chapter, any other rules, regulations or policies of the Borough of High Bridge, County of Hunterdon, State of New Jersey, and any departments, authorities and agencies thereof with jurisdiction therein, whereby the applicant shall be reimbursed by the Borough or otherwise, as a result of any participation fees, connection charges, charges paid in regard to developer's agreements with other applicants and the like, all in accordance with an agreement between the Borough Council and the applicant with respect to special benefits provided by the improvements to other properties.

In determining the procedures to be followed in the event of the submission of a list and request from the Board, the Borough Council shall be guided by the following standards and considerations;

This section shall not be effective until approved by the Court.

The Borough of High Bridge shall not spend development fees until the Court has approved a plan for spending such fees (spending plan).

The following terms, as used in this section, shall have the following meanings:

Imposition of fees.

Eligible exactions, ineligible exactions and exemptions for residential developments.

Imposition of fees.

Eligible exactions, ineligible exactions and exemptions for nonresidential development.

Upon the granting of a preliminary, final or other applicable approval for a development, the approving authority or entity shall notify or direct its staff to notify the construction official responsible for the issuance of a construction permit.

For nonresidential developments only, the developer shall also be provided with a copy of Form N-RDF "State of New Jersey Nonresidential Development Certification/Exemption" to be completed as per the instructions provided. The developer of a nonresidential development shall complete Form N-RDF as per the instructions provided. The construction official shall verify the information submitted by the nonresidential developer as per the instructions provided in the Form N-RDF. The Tax Assessor shall verify exemptions and prepare estimated and final assessments as per the instructions provided in Form N-RDF.

The construction official responsible for the issuance of a construction permit shall notify the Borough Tax Assessor of the issuance of the first construction permit for a development which is subject to a development fee.

Within 90 days of receipt of such notification, the Borough Tax Assessor shall prepare an estimate of the equalized assessed value of the development based on the plans filed.

The construction official responsible for the issuance of a final certificate of occupancy shall notify the Borough Tax Assessor of any and all requests for the scheduling of a final inspection on a property which is subject to a development fee.

Within 10 business days of a request for the scheduling of a final inspection, the Borough Tax Assessor shall confirm or modify the previously estimated equalized assessed value of the improvements associated with the development; calculate the development fee; and thereafter notify the developer of the amount of the fee.

Should the Borough of High Bridge fail to determine or notify the developer of the amount of the development fee within 10 business days of the request for final inspection, the developer may estimate the amount due and pay that estimated amount consistent with the dispute process set forth in Subsection b. of Section 37 of P.L. 2008, c.46 (N.J.A.C. 40:55D-8.6).

Except as provided in Subsection E(1)(c) hereinabove, 50% of the initially calculated development fee shall be collected at the time of issuance of the construction permit. The remaining portion shall be collected at the time of issuance of the certificate of occupancy. The developer shall be responsible for paying the difference between the fee calculated at the time of issuance of the construction permit and that determined at the time of issuance of the certificate of occupancy.

Appeal of development fees.

There is hereby created a separate, interest-bearing Affordable Housing Trust Fund to be maintained by the Chief Financial Officer of the Borough of High Bridge for the purpose of depositing development fees collected from residential and nonresidential developers and proceeds from the sale of units with extinguished controls.

The following additional funds shall be deposited in the Affordable Housing Trust Fund and shall at all times be identifiable by source and amount:

In the event of a failure by the Borough of High Bridge to comply with trust fund monitoring and reporting requirements or to submit accurate monitoring reports; or a failure to comply with the conditions of the judgment of compliance or a revocation of the judgment of compliance; or a failure to implement the approved spending plan and to expend funds within the applicable required time period as set forth in In re Tp. of Monroe, 442 N.J. Super. 565 (Law Div. 2015) (aff'd 442 N.J. Super. 563); or the expenditure of funds on activities not approved by the Court; or for other good cause demonstrating the unapproved use(s) of funds, the Court may authorize the State of New Jersey, Department of Community Affairs, Division of Local Government Services (LGS), to direct the manner in which the funds in the Affordable Housing Trust Fund shall be expended, provided that all such funds shall, to the extent practicable, be utilized for affordable housing programs within the Borough of High Bridge, or, if not practicable, then within the county or the housing region.

Interest accrued in the Affordable Housing Trust Fund shall only be used to fund eligible affordable housing activities approved by the Court.

The expenditure of all funds shall conform to a spending plan approved by the Court. Funds deposited in the Affordable Housing Trust Fund may be used for any activity approved by the Court to address the Borough of High Bridge's fair share obligation and may be set up as a grant or revolving loan program. Such activities include, but are not limited to: preservation or purchase of housing for the purpose of maintaining or implementing affordability controls; housing rehabilitation; new construction of affordable housing units and related costs; accessory apartments; a market-to-affordable program; Regional Housing Partnership programs; conversion of existing nonresidential buildings to create new affordable units; green building strategies designed to be cost saving and in accordance with accepted national or state standards; purchase of land for affordable housing; improvement of land to be used for affordable housing; extensions or improvements of roads and infrastructure to affordable housing sites; financial assistance designed to increase affordability; administration necessary for implementation of the Housing Element and Fair Share Plan; and/or any other activity permitted by the Court and specified in the approved spending plan.

Funds shall not be expended to reimburse the Borough of High Bridge for past housing activities.

At least 30% of all development fees collected and interest earned on such fees shall be used to provide affordability assistance to low- and moderate-income households in affordable units included in the municipal Fair Share Plan. One-third of the affordability assistance portion of development fees collected shall be used to provide affordability assistance to those households earning 30% or less of the median income for Housing Region 3, in which High Bridge is located.

The Borough of High Bridge may contract with a private or public entity to administer any part of its Housing Element and Fair Share Plan, including its programs for affordability assistance.

No more than 20% of all revenues collected from development fees may be expended on administration, including, but not limited to, salaries and benefits for municipal employees or consultants' fees necessary to develop or implement a new construction program, prepare a Housing Element and Fair Share Plan, and/or administer an affirmative marketing program or a rehabilitation program.

The ability for the Borough of High Bridge to impose, collect and expend development fees shall be permitted through the expiration of the repose period covered by its Judgment of Compliance and shall continue thereafter so long as the Borough of High Bridge has filed an adopted Housing Element and Fair Share Plan with the Court or with a designated state administrative agency, has petitioned for a Judgment of Compliance from the Court or for Substantive Certification or its equivalent from a state administrative agency authorized to approve and administer municipal affordable housing compliance and has received approval of its Development Fee Ordinance from the entity that will be reviewing and approving the Housing Element and Fair Share Plan.

If the Borough of High Bridge is not pursuing authorization to impose and collect development fees after the expiration of its Judgment of Compliance, it may be subject to forfeiture of any or all funds remaining within its Affordable Housing Trust Fund. Any funds so forfeited shall be deposited into the "New Jersey Affordable Housing Trust Fund" established pursuant to § 20 of P.L. 1985, c. 222 (N.J.A.C. 52:27D-320).

After the expiration of the Judgment of Compliance, if the Borough does not pursue or obtain continued authorization, the Borough of High Bridge shall not impose a residential development fee on a development that receives preliminary or final site plan approval, retroactively impose a development fee on such a development, or expend any of its collected development fees.