Location on Another Lot. Required off-street parking facilities, except for dwellings, may be established on another lot in a business, commercial, industrial or open district provided such facilities shall be situated no more than 400 feet in a business district or more than 500 feet in any other district from the building or premises to which such facilities are appurtenant; and provided that such off-street parking facilities and access ways shall be reserved for such use by recorded deed covenants or agreements which subject their control to the Borough under conditions approved by the Planning Board and the Borough Attorney. Conditions and safeguards may include, among others, the installation and regulation of lighting and the prevention of glare to abutting property, determination of the location and adequacy of entrances and exits to a street, provision of planting and fencing and operating arrangements.

The lessee or holder of any interest of any such parking space(s) located on another lot shall be required to submit to the Borough Administrator a copy of a written lease or other satisfactory agreement granting permission to utilize such space(s), or otherwise submit a certification that such a valid lease or other agreement for the space is in full force and effect. A copy of the lease or other acceptable agreement and/or certification that a valid lease or other acceptable agreement exists shall be submitted annually following the lease commencement date. Failure to submit a copy of the lease and/or certification that a valid lease or other acceptable agreement exists shall result in a fine of $500 to be paid by the lessee or interest holder. Upon expiration of a valid lease or other agreement for the space, the site plan approval shall terminate.