Resolution #15-30: Resolution of the Vernon Township Municipal Utilities Authority Approving a Hardship Payment Plan for Valley View Apartments
Date of Adoption: May 21, 2015
WHEREAS, the commissioners of the Vernon Township Municipal Utilities Authority have established a hardship payment plan allowing the Vernon Township sewer connection fee to be paid over a number of equal annual installments;
WHEREAS, VALLEY VIEW APARTMENTS, a partnership (P.O. Box 695 Livingston, N.J. 07039) is the owner of 15-17 Omega Drive, Block 141 Lot 110.01 (hereinafter “applicant”);
WHEREAS, the applicant has presented an application and been approved for an allocation of 15.25 EDUs;
WHEREAS, the applicant’s connection fee pursuant to the Rules and Regulations and the policies of the VTMUA is $71,141.25.
WHEREAS, the applicant has applied for a hardship payment plan for the sewer connection fee;
WHEREAS, the commissioners of the VTMUA have reviewed the narrative and financial information submitted by the applicant;
WHEREAS, the commissioners of the VTMUA believe that requiring the applicant to pay the VTMUA’s connection fee in one payment represents a financial hardship;
NOW THEREFORE IT BE RESOLVED by the commissioners of the Vernon Township Municipal Utilities Authority that VALLEY VIEW APARTMENTS, partnership as owner of Block 141 Lot10.1 is hereby approved for a connection fee hardship installment payment plan as follows:
- The total connection fee shall be $71, 141.25.
- The applicant shall be permitted to pay the connection fee in 5 equal installments at an interest rate of 1.5% per year for each of the 5 years. The interest amounts to $5,335.56 for the five years.
- Making the total amount of $76,476.81 to be paid in 5 equal installments of $15,295.36.
- The first payment to be due and payable upon the execution of the Hardship PAYMENT PLAN AGREEMENT and the signing by the applicant of this resolution, Resolution 15-30.
- Each payment shall be due on June 1st of each year starting on June 1, 2015, then after on June 1, 2016, June1, 2017, June1, 2018, June1, 2019.
- All payments due under this payment plan are designated and shall be treated as a municipal lien and a copy of this agreement shall be filed with the tax collector’s office.
- The applicant shall be required to sign a copy of this resolution agreeing to and memorializing the payment plan as well as any other documentation required by the VTMUA.
- All amounts due under this agreement shall be subject to the same late penalties and interest as sewer user fees.
- Any and all sewer charges that are owed must be paid by the applicant prior to the execution of any hardship payment plan and the applicant continue to stay current with sewer charges going forward.