A person seeking to construct a new home on a conforming lot not forming part of any subdivision, shall install sidewalks, curbs, gutters and drywells unless the property owner thereof can demonstrate to the reasonable satisfaction of the Township Engineer that the installation of one or more of these improvements is not practicable under the circumstances. The decision of the Township Engineer shall be binding upon the property owner. Any waiver granted by the Township Engineer shall be conditioned upon the payment by the property owner of a sum equal to the cost of the installation of the sidewalks, curbs, gutters and drywells (or any of these items so waived) which would otherwise have to be installed. The calculation of the payment shall be based upon estimates prepared by the property owner or its engineer and submitted to the Township Engineer for review and approval. The funds shall be deposited into the Township's general operating account and be realized as general revenue of the Township.