If an approving authority includes as a condition of approval of an application for development pursuant to the Municipal Land Use Law the installation of street lighting on a dedicated public street connected to a public utility, then upon notification in writing by the applicant to the approving authority and Township Committee that (1) the street lighting on a dedicated public street has been installed and accepted for service by the public utility and (2) that certificates of occupancy have been issued for at least 50% of the dwelling units and 50% of the floor area of the nonresidential uses on the dedicated public street or portion thereof indicated by section pursuant to N.J.S.A. 40:55D- 38, the Township 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 street lighting on the dedicated public street on a continuing basis. Compliance by the Township with the provisions of this subsection shall not be deemed to constitute acceptance of the street by the Township.