Lakewood Township City Zoning Code
ARTICLE V
OFF-TRACT IMPROVEMENTS
18-500 Off-Tract Improvements Required.
As a condition of final major subdivision or site plan approval, the Reviewing Board may require an applicant to pay his pro-rata share of the cost of providing only reasonable and necessary off-tract improvements. These costs may include but, are not limited to, the costs of street improvements, water, sewerage and drainage facilities, and easements therefore, located outside the property limits of the development but necessitated or required by construction or improvements within such development. The proportionate or pro-rata amount of the cost of such facilities that shall be borne by each developer or owner within a related or common area shall be based on the criteria established herein.
18-501 Improvements to be Constructed at the Sole Expense of the Developer.
Full Allocation. In cases where the reasonable and necessary off tract improvement or improvements are necessitated or required by the proposed development and where no other property owners receive a special benefit thereby, the applicant may be required, as a condition of approval, at the applicant's sole expense, to provide for and construct such improvements as if such were an on tract improvement in the manner provided hereafter and otherwise provided by law.
18-502 Other Improvements.
In cases where the need for any off-tract improvement is necessitated by the proposed development application and where it is determined that properties outside of the development will also be specially benefited by the improvement, the following criteria shall be utilized in determining the proportionate share of such improvements to the developer.
A.
Sanitary Sewers. 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:
1.
The capacity and the design of the sanitary sewer system shall be based on "Rules and Regulations for the Preparation and Submission of Plans for Sewerage Systems," New Jersey Department of Environmental Protection, except where governed by the Residential Site Improvement Standards, N.J.A.C. 5:21-6, and all Lakewood Township sewer design standards including infiltration standards, and all other Township sanitary sewer standards.
2.
The capacity of the existing system to service the entire improved drainage area shall be computed. If the system is able to carry the total developed drainage basin, no improvement or enlargement cost will be assigned to the developer. If the existing system does not have adequate capacity for the total developed drainage basin, the prorated enlargement or improvement share shall be computed as follows:
Total enlargement or improved cost = Total tributary gpd.
Developer's cost = Development gpd.
If it is necessary to construct a new system or upgrade the existing system in order to service the proposed development, the prorated enlargement share to the developer shall be computed as follows:
Total tributary gpd.
Total project cost = to new system
Developer's cost = Developer's tributary gpd.
The plans for the improved system or extended system shall be prepared by the developer's engineer. All work and costs shall be calculated by the developer and approved by the Township Engineer.
B.
Roadways. Street widening, alignment, channelization of intersections, construction of barriers, new or improved traffic signalization, signs, curbs, sidewalks, trees, utility improvements not covered elsewhere, the construction or reconstruction of new or existing streets and other associated street or traffic improvements, the applicant's proportionate cost shall be computed as follows:
1.
The Township Engineer or Planner shall provide the applicant with the existing and anticipated future peak hour flows for the off-tract improvement.
2.
The applicant shall furnish a plan for the proposed off tract improvement which shall include the estimated peak hour traffic generated by the proposed development. The ratio of the peak hour traffic generated by the proposed development to the future additional peak hour traffic anticipated to impact the proposed off tract improvement shall form the basis of the proportionate share. The proportionate share shall be computed as follows:
Developer's Cost | = | Total cost of the off-tract improvement | X | Future peak hour traffic generated by the developer(%) Future additional peak hour traffic |
C.
Drainage improvements. Storm water and drainage improvements including the installation, relocation or replacement of storm drains, culverts, catch basins, manholes, rip rap or improved drainage ditches and appurtenances thereto and relocation or replacement of other storm drainage facility or appurtenances associated therewith, the applicant's proportionate share shall be determined as follows:
1.
The capacity and the drainage system design to accommodate storm water runoff shall be based on a method described in "Urban Hydrology for Small Watershed Technical Release 55", Soil Conservation Service USDA, current issue, computed by the developer's engineer and approved by the Township Engineer.
2.
The capacity of the enlarged, extended or improved system required for the subdivision and areas outside of the developer's tributary to the drainage system shall be determined by the developer's engineer subject to approval of the Township Engineer. The plans for the improved system shall be prepared by the developer's engineer and the estimated cost or the enlarged system shall be calculated by the Township Engineer. The pro-rated share for the proposed improvement shall be computed as follows:
Total enlargement or improvement cost of drainage facilities = Total tributary cfs
Developer's cost = Developer's cfs
18-503 Escrow Accounts for Future Improvements.
Where the proposed off-tract improvement is to be undertaken at some future date, the monies required for the improvement shall be deposited to the credit of the Township in a separate interest bearing account until such time as the improvement is constructed. If the off-tract improvement is not begun within five years of deposit or term of approval, whichever is earlier, all monies and interest shall be returned to the applicant.
18-504 Computation of Pro-rata Share.
In any case in which an applicant does not provide the approving authority with estimates from a traffic consultant and/or consulting engineer regarding estimated improvement costs and all other information necessary to proportion costs, the approving authority may rely on estimates of the Township Engineer and Planner to determine pro-rata costs.
18-505 Transportation Improvement District.
[Ord. No. 2014-85; Ord. No. 2017-17]
A.
Purpose and Intent. The purpose of this section is to ensure that infrastructure, including, but not limited to off-tract road and related drainage, lighting, sidewalks, signage, traffic control devices and the like could be maintained and created to accommodate new development. The Township of Lakewood's Transportation Improvement Districts ("TID's") are designed to achieve the following purposes:
1.
To encourage safe and efficient traffic flow and pedestrian access along the roadway systems serving the Township;
2.
To maintain satisfactory levels of traffic service throughout the Township during peak travel times;
3.
To assess future development its fair share of the cost of reasonable and necessary off-tract improvements that are a direct consequence of such new development rather than arising from existing development;
4.
To raise revenues that will be managed and expended in such a manner and time that the development paying the fee will receive a direct benefit from the improved roads and related facilities;
5.
To encourage development that is compatible with and, whenever possible, carries out the land use and circulation objectives of the Lakewood Township Master Plan and other regional planning incentives that match Lakewood Township's community goals;
6.
To accomplish the foregoing objectives through thoughtful and cooperative planning between all levels of government and the private sector for the benefit of all residents and businesses in the Township;
7.
It is the intent of this subsection to effectuate its terms consistent with the goals and objectives of the County of Ocean and the agencies of the State of New Jersey through policy and project agreements now or hereafter formulated or consummated.
B.
Identification of Districts. The following TID's are hereby established, as described in the "Township of Lakewood Capital Improvement Plan for Transportation Infrastructures" (the TID Plan") dated August 12, 2014, prepared by T & M Associates, attached as Exhibit A (Exhibit A is on file with Ord. No. 2014-85 in the Township Offices.):
1.
Transportation Improvement Districts 1 & 2 (TID 1 & 2) comprised of the area set forth on the attached map[1] drawn by T & M Associates entitled "Transportation Improvement Districts I & 2 Lakewood New Jersey". TID 1 is generally bounded by Route 9 to the east, Watering Place Brook to the north and the Township's municipal boundary to the east and south. TID 2 is bounded by Route 9 to the west, New Hampshire Avenue (CR 623) to the east, Lake Shenandoah County Park and the Metedeconk Recreation Area to the north and the Township's municipal boundary to the south.
[1]
Editor's Note: The map may be found in the Township offices with Ord. No. 2014-85.
C.
Roadway Improvements. The improvements to be made within each established TID are set forth in the TID Plan or as amended in the future. Improvements to be made within the TID may include but are not limited to the construction or reconstruction of new or existing streets, right-of-way, acquisition, engineering, and other associated street or traffic improvements such as street widening, alignment, channelization of intersections, construction of barriers, new or improved traffic signalizations, signs, curbs, sidewalks, street drainage, road culverts, lighting, landscaping, utility relocation and the like.
D.
Impact Fees.
1.
The pro-rata share of TID impact fees ("TID Impact Fees") to be Collected from a developer having an application for development within an established TID shall be adopted from time to time by the Township Committee with recommendations of the Planning Board or Zoning Board of Adjustment, as the case may be, and the County of Ocean, (to the extent that egress from or ingress upon a County roadway is involved). The current impact fees are to be calculated in accordance with the formula set forth in Exhibit B attached hereto.
Editor's Note: Exhibit B is included as an attachment to this chapter.
[Ord. No. 2017-17]
2.
The purposes of the TID impact fee is to satisfy the developer's proportionate and pro-rate contribution to the cost of reasonable and necessary off-tract roadway improvements and necessitated by new development (to include, but not be limited to: the construction or reconstruction of new or existing streets, rights-of-way, acquisition, engineering, and other associated street or traffic improvements such as street widening, alignment, channelization of intersections, construction of barriers, new or improved traffic signalization, signs, curbs, sidewalks, street drainage, road culverts, lighting, landscaping, utility relocation and the like) to be borne by developers within a related and common area of an established TID.
3.
The data upon which TID impact fees are determined shall be adjusted from time to time as is reasonably deemed appropriate by the Township Committee and the County to account for modifications to projected roadway improvement costs resulting from detailed engineering field studies and inflation, adjusted development projections, actual costs of TID program maintenance and administration, land acquisition costs and necessary changes in the scope of roadway improvements.
4.
Where an applicant pays the amount determined as his pro-rata share under protest, he shall institute a legal action within one year of such payment in order to preserve the right to judicial determination as to the fairness and reasonableness of such amount. In the event such applicant fails to institute such legal action within one year of such payment, such applicant shall have been deemed to waive any right to challenge such pro-rata share.
E.
Implementation of TID Impact Fees through Developers Agreements.
1.
Developers of developments within an established TID shall be required to enter into an agreement with the Township (and with Ocean County, to the extent that egress from and ingress upon a County roadway is involved) for the payment of the required TID impact fee; and the Planning Board or Board of Adjustment, (after receiving input from County or State agencies for developments located along roads under the jurisdiction of these agencies, if County or State road improvements are to be undertaken) as the case may be, in deliberations with respect to any applications for preliminary approval of development located within an established TID, shall make findings and recommendations as to items to be addressed by the agreement. A condition to any final approval shall be that the developer enter into the said agreement with the Township (and with Ocean County, to the extent that egress from or ingress upon a County roadway is involved). The agreement shall be in proper form for recording and, once duly signed and acknowledged by all parties thereto, shall be recorded by the developer in the Ocean County Clerk's Office.
2.
The agreement shall take into consideration the applicable Board's findings of fact, recommendations and conditions of approval and shall, at a minimum, provide for the following;
(a)
Payment of an impact fee representing the applicant's fair share of road and street (Township, County and State) improvements, inclusive of land acquisition costs, if any, in accordance with the standards set forth in this subsection and the TID Plan. Unless an installment payment schedule is approved, the TID impact fee shall be paid prior to the issuance of any building permits.
(b)
Where the development is phased, an installment payment schedule, if requested by the developer, based upon the phasing of the development as agreed to by the Township Committee with respect to the collection of the fee determined. With any installment payment plan, full payment shall be required prior to the issuance of the final building permit for the project or phase thereof subject to such installment payments. The applicable Board may require that the developer posts a letter of credit or other appropriate financial guarantee to ensure the receipt of any such installment payments.
(c)
The limit of the developer's future off-tract traffic improvement liability upon full or partial payment of the TID impact fee.
(d)
A description of on-tract or off-tract road and related traffic improvements to be made by or at the expense of the developer, in lieu of a TID impact fee, contribution or some combination thereof, if any, and the timing or sequencing of such installation.
(e)
A description of any credits or repayment due the developer as a result of voluntary construction or payments in excess of the developer's fair share based upon the standards set forth in the TID Plan.
(f)
Where the proposed off-tract improvement is to be undertaken at some future date, the monies required for the improvement shall be deposited in a separate interest-bearing account to the credit of the Township (or, in the case of a County road, in the joint interest bearing account established or to be established between the Township and the County) until such time as the improvement is constructed.
(g)
Such other matters as may be recommended by the applicable Board or the Township Committee.
3.
Use of Funds Collected. Any funds collected by way of the TID impact fee shall be maintained in a separate escrow account credited to the Township or in a separate escrow account of the County (if a County road is involved). Such funds shall be used only for improvements referred to in the TID Plan and as adopted as part of the Township's capital improvement program. Any funds held in the account of the County shall be distributed and utilized in accordance with an agreement between the County and the Township regarding the distribution and utilization of such funds. The mutual consent of the County and the Township shall be required prior to the release of any funds held by the County in its escrow account for purposes of capital expenditures to any county road within an established TID.
4.
Exemption for Public Buildings. Development applications made by a municipal agency for the construction of a public building shall be exempt from the requirements of the payment of a TID impact fee as set forth herein, provided that the Township Committee finds that the proposed building will serve a public purpose and promote the public health, safety and welfare. Rather, the traffic impact, if any, of such public building shall be considered as part of the general sector share.
18-506 Oak Street Corridor Improvement District. [1]
[1]
Editor's Note: Prior ordinance history: Ordinance No. 2015-61.
18-506.1 Findings and Declarations.
[Ord. No. 2016-43 § 1]
Pursuant to N.J.S.A. 40:56-1 et seq., a municipality may under take various works as a "local improvement," the cost of which may be assessed upon the lands in the vicinity thereof benefited thereby.
The Oak Street Corridor Improvement District ("District") is to be developed as a residential community including houses of worship, schools, shuls, and residential units, including duplex and single-family residential structures.
The District is comprised of various parcels of property identified on Schedule A[1] attached hereto.
The development of the District as a residential community will require the installation of certain improvements identified on a plan prepared by FWH entitled "Oak Street Corridor Improvements Plan," dated August 2, 2014, as may be revised from time to time, consisting of 13 Sheets ("Improvement Plan").
The District is to be developed as a residential community by an unincorporated joint venture comprised of persons and/or entities who are record owners of properties located in the District, which unincorporated joint venture is known as the Oak Street Core Group Joint Venture ("Developer").
The Developer has petitioned the municipality pursuant to N.J.S.A. 40:56-3, to make various improvements as envisioned by N.J.S.A. 40:56-1 et seq.
There are certain record owners of property located in the District who are not members of the Oak Street Core Group ("Non-Developers").
Pursuant to a separate agreement entered into with between the Township and the Developer ("Developers Agreement") dated March 17, 2016, the Developer will undertake the installation of the improvements defined herein and identified on the Improvement Plan at its cost and expense.
As a result of the redevelopment and improvement of the District, the Township has incurred and will continue to incur costs and expenses associated with same.
The purpose of adopting this section is to provide a mechanism to recapture the costs associated with the improvements from Non-Developers that will benefit from same and to deliver same to the Developer and to recapture the Township costs from Non-Developers and Developers.
[1]
Editor's Note: Schedule A may be found in the Township offices.
18-506.2 Definitions.
[Ord. No. 2016-43 § 2]
The following words, terms and phrases, when used in this section, shall have the meanings respectively ascribed to them in this section, unless the context clearly indicates otherwise:
An accounting of the actual Developer Costs incurred by the Developer provided to the Township following the completion of the installation of the Improvements and the acceptance of same by Township.
The joint venture known as the Oak Street Core Group Joint Venture formed for the purposes of developing the District as a residential community.
The actual costs incurred by the Developer to design and construct the Improvements, which costs shall include but not be limited to the costs associated with design, surveying, engineering, environmental studies, insurance premiums, management fees, consultation fees, land acquisition costs, remedial work for tree restoration and wildlife habitat, construction, legal fees, application fees and escrow funding.
The agreement dated March 16, 2016, entered into between the Township and the Developer pursuant to which the Developer has agreed to construct and install the Improvements and the Township has agreed to recapture the Developer Costs of same from subsequent Non-Developers.
The potential number of residential units which could be constructed is 407.5 units, where a duplex is considered 2 units and where each detached single family dwelling unit is considered 1.25 units for purposes of calculating the pro-rata share under this section.
The Law Firm of Heilbrunn Pape, LLC, with offices at 516 Route 33, Millstone Township, New Jersey 08535.
$14,000,000 which amount represents the best estimate of the Developer costs calculated by the Developer at the time of the adoption of this section.[1]
The improvements identified on the Improvement Plan including but not limited to stormwater management facilities, appurtenances and systems; sanitary sewer lines, appurtenances and systems; water lines, appurtenances and systems; roadways, curbs, sidewalks, street lighting, recreation elements, all other utilities such as electric, cable, natural gas, telephone, off-site land acquisitions and specifically including improvements to the intersection of Route 9 and Broadway including the installation and/or improvement to a traffic signal.
Any person or entity that owns property located in the District and seeks to utilize or develop that property but which person or entity is not part of the Oak Street Core Group Joint Venture. Non-Developer shall also mean any Developer in default of its obligations pursuant to the Oak Street Core Group Joint Venture agreement as determined therein.
An amount calculated in accordance with this section required to be paid by a Non-Developer to the Township, which funds shall be utilized to reimburse the Developer for the Developer Costs pursuant to Subsection 18-506.3 hereof or the Township for the Township costs pursuant to Subsection 18-506.4 hereof.
The Township of Lakewood, Ocean County, New Jersey.
Shall mean and include, but not limited to, appraisal fees, engineering costs, administrative fees, land acquisition and deed restriction costs, and bonding costs incurred by the Township as a result of the improvements to the District as contemplated by this section.
[1]
Editor's Note: Ordinance No. 2016-43, codified herein, was adopted September 15, 2016.
18-506.3 Reimbursement Required as to Developers.
[Ord. No. 2016-43 § 3]
A.
Any Non-Developer seeking to develop property located in the District shall be required to pay its pro-rata share to the escrow agent. The pro-rata share collected by the escrow agent shall be transferred to the Developer as provided for herein.
B.
The pro-rata share of developer costs to be paid by a Non-Developer pursuant to this section shall be an amount equal to a fraction of the certified developer costs incurred by the Developer. The pro-rata share shall be calculated by multiplying the certified developer costs by a fraction, the numerator of which is the number of residential units proposed by the Non-Developer ("non-developer units") and the denominator of which is the district yield. For purposes of this calculation a duplex shall be considered 2 residential units and a single-family detached dwelling shall be considered 1.25 residential units. The formula for same shall be:
Non-Developer Units District Yield | X | Certified Developer Costs = Pro-rata Share |
The foregoing calculation of the pro-rata share for developer costs is subject to the following:
1.
Upon the completion of the improvements, the Developer shall provide the Township with the certified developer costs incurred by the Developer pursuant to this section.
2.
Until such time as the Developer has provided the Township with the certified developer costs following the completion of construction, the escrow agent shall utilize the estimated costs to determine the pro-rata share of a Non-Developer.
3.
All pro-rata shares collected by Township based upon the estimated costs shall be held in escrow by the escrow agent until such time as the Developer provides the Township with the certified developer costs at which time the pro-rata shares shall be distributed as follows:
a.
In the event the certified developer costs exceed the estimated costs, the escrow agent shall release all of the funds held pursuant to the above and shall notify all Non-Developers that paid a pro-rata share based upon the estimated costs of the additional pro-rata share that must be paid. Non-Developers notified pursuant to this subsection and required to pay an additional pro-rata shall pay same as directed by the escrow agent within 60 days of such notice. In the event that a Non-Developer fails or refuses to pay the additional pro-rata share required by this subsection, same may be treated in the same manner as failure to pay a municipal tax and shall become a lien on the property of the Non-Developer which is the subject of this section.
b.
In the event the certified developer costs are less than the estimated costs, the escrow agent shall release to the Developer the pro-rata share to which it is entitled pursuant to this section and return the balance of same to the Non-Developer.
C.
In order to encourage funding by Non-Developers of their pro-rata share as early as possible in the installation and construction of the improvements the pro-rata share shall include interest in the amount of 4% per annum, which interest shall accrue from the date of final adoption of this section until the date of payment.[1]
[1]
Editor's Note: Ordinance No. 2016-43, codified herein, was adopted September 15, 2016.
D.
A Non-Developer required to pay a pro-rata share pursuant to this section shall pay same to the escrow agent upon the earlier of any of the following occurrences:
1.
Within 60 days after the issuance of a final approval for the proposed development of the Non-Developer to which this section applies. In the event the Non-Developer fails to timely pay the pro-rata share, the final approval shall become null and void. The condition of the final approval requiring the payment of the pro-rata share shall include the amount of the pro-rata share; or
2.
As a condition of the issuance of a certificate of occupancy, or earlier as elected by the Non-Developer.
E.
The payment of a pro-rata share pursuant to this section shall not relieve a Non-Developer from paying any other charges or fees required by the Township pursuant to any other statute, ordinance or regulation.
18-506.4 Reimbursement Required as to Township Costs.
A.
Any Developer or Non-Developer seeking to develop property located in the District shall be required to pay its pro-rata share to the Township to reimburse the Township for the Township costs.
B.
The pro-rata share of Township costs to be paid pursuant to this section shall be an amount equal to a fraction of the Township costs. The pro-rata share shall be calculated by multiplying the Township costs by a fraction, the numerator of which is the number of residential units proposed by the Developer or the Non-Developer making application for a building permit ("project units") and the denominator of which is the district yield. For purposes of this calculation a duplex shall be considered 2 residential units and a single-family detached dwelling shall be considered 1.25 residential units. The formula for same shall be:
Project Units District Yield | X | Township Costs = Pro-rata Share |
In the event a house of worship, a private educational facility, or any other non-residential use is proposed to be developed on any property within the Oak Street Core in lieu of residential development, by either a Developer or a Non-Developer, it will be designated as having the maximum number of residential units developable on the property in question based upon its area, and shall be required to pay its pro-rata share for Township's costs in accordance with this section.
The foregoing calculation of the pro-rata share of Township costs is subject to the following:
1.
The Township costs shall be established by the Township Committee and amend from time to time with recommendations from the Township Engineer, Planner and Attorney as determined necessary by the Township Committee.
2.
The data upon which the Township costs are determined shall be adjusted from time to time as is reasonably deemed appropriate by the Township Committee to account for modifications to the development of the District and the costs incurred by the Township relating to same.
3.
The Township costs shall be subject to the following:
a.
The costs and expenses incurred by the Township to date have been calculated at $250,000;
b.
The total Township Costs shall be the $250,000 referenced in Subsection B3a above, plus the value of the lands made available by the Township of Lakewood for storm drainage improvements and tree preservation, which valuation shall be made effective January 24, 2014, as set forth in the Gagliano and Company appraisal dated July 28, 2016, in the amount of $1,705,000, plus any other costs or expenses incurred by the Township from the date of the adoption of this section forward.[1] In no event shall the total Township Costs, inclusive of the $1,955,000 referenced in this subsection, exceed an amount equal to $10,000 per dwelling unit benefitted by said improvements. In the event the cost per dwelling unit exceeded $10,000, said additional cost would be borne solely by the Oak Street Core Joint Venture Group.
[1]
Editor's Note: Ordinance No. 2016-43, codified herein, was adopted September 15, 2016.
C.
The pro-rata share of Township costs pursuant to this section shall be paid to the Township upon the earlier of any of the following occurrences:
1.
Within 60 days after the issuance of a final approval for the proposed development to which this section applies. In the event the Developer or Non-Developer fails to timely pay the pro-rata share pursuant to this section, the final approval shall become null and void. The condition of the final approval requiring the payment of the pro-rata share shall include the amount of the pro-rata share; or
2.
As a condition of the issuance of a Certificate of Occupancy, or earlier as elected by the Developer or Non-Developer.
D.
The payment of a pro-rata share pursuant to this section shall not relieve a Developer or Non-Developer from paying any other charges or fees required by the Township pursuant to any other statute, ordinance or regulation, including, but not limited to the Detention Facilities: Maintenance and repair fees required by § 2-36.4 of the Township Code. § 2-36.4 requires that the following fees shall be paid in addition to the pro-rata share paid pursuant to this section:
For all proposed drainage basins serving a residential community, the Township shall be responsible for all maintenance (both annual and perpetual). The following one-time maintenance fees shall be assessed per unit and put in a separate and dedicated fund, which shall be used by the Township exclusively for maintenance and repair of such drainage facilities within the Township:
[Amended 12-9-2021 by Ord. No. 2021-62]
18-506.5 Escrow Agent Requirements.
[Ord. No. 2016-43 § 6]
All funds payable by a Non-Developer pursuant to this section, shall be delivered to the escrow agent. The escrow agent shall maintain said funds in a non-interest bearing segregated trust account. No funds, other than funds collected pursuant to this section, shall be held in said account. The escrow agent, by this section, be required to provide notice to the Township Manager and Chief Financial Officer within five days of receipt of any funds. Said notice shall expressly identify the parties paying same, the amount paid, and the calculation that supported the amount paid. In the event that there is any dispute with regard to the amount to be paid, the escrow agent shall bring same to the attention of the Township Manager and Chief Financial Officer and shall be bound by their final determination as to the amount that should be paid.
All monies shall be held by the escrow agent, in trust, unless and until such time as: (a) the certified developer costs, as same are defined herein, have been determined; and (b) the escrow agent shall have received express written authorization from the Township of Lakewood Governing Body in the form of resolution, expressly authorizing the release of funds to the Developer.
Absent express authorization from the Township Governing Body by resolution or by Order of a Court of competent jurisdiction, the escrow agent shall have no authority to disburse funds.