The Permit Management Office require and/or accept that the proponent deposit a sum of money which is sufficient to cover proportionately the totality or part of the future vicinal facilities of the vicinal development [sic]; Provided, That such moneys shall be deposited in a special account in the Department of the Treasury, to be devoted to the provision of the vicinal facilities of the vicinity for which it is reserved.
The determination of the amount of money to be required of the proponent as a deposit to cover proportionately future vicinal facilities of the vicinal development, shall be based on such norms as for the purpose may be expressly set forth in the regulations adopted pursuant to § 30g hereof and shall include an amount of money to cover any increase that may arise in construction costs. The Permit Management Office shall designate a committee for the preparation of such norms, which shall be composed of two members from its membership, two from the Department of Housing designated by the Secretary thereof, and one representing the public interest appointed by the Governor. This committee shall consider, in order to establish the proportion of vicinal facilities to be allotted to each proposed housing development, the number of residential lots and/or housing units of such development, and the construction cost of the vicinal facilities to be required. The norms prepared by the committee and adopted by the Permit Management Office the regulation may be periodically reviewed by the committee itself in order to make the adjustments resulting from the variations due to the increase or decrease of the construction cost. The norms so revised shall be submitted as amendments to the regulation authorized by § 30g hereof.
History —June 8, 1962, No. 25, p. 48, added as § 2.01 on July 18, 1975, No. 9, p. 587, § 4.