§ 228-14. Petition for reinstatement of control and possession by owner.
Latest version.
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A.An owner may petition for reinstatement of the owner's control and possession of the property at any time after one year from the grant of possession, but no later than 30 days after the Borough has filed a Notice of Completion with the court or, in the event the Notice of Completion is filed within less than one year of the grant of possession, within 30 days after the Borough has filed notice. The court may allow additional time for good cause if that additional time does not materially delay completion of the rehabilitation, place undue hardship on the Borough, or affect any of the terms or conditions under which the Borough has applied for or received financing for the rehabilitation of the property.B.Any petition for reinstatement of the owner's control and possession of the property shall:(1)Include a plan for completion of the rehabilitation and reuse of the property consistent with the plan previously approved by the court;(2)Provide legally binding assurances that the owner will comply with all conditions of any grant or loan secured by the Borough or repay those grants or loans in full, at the discretion of the maker of the loan or grant; and(3)Be accompanied by payment equal to the sum of 1) all Borough liens outstanding on the property; 2) all costs incurred by the Borough in bringing action with respect to the property; 3) any costs incurred by the Borough not covered by grants or loans to be assumed or repaid pursuant to this section; and 4) any costs remaining to complete rehabilitation and reuse of the property, as determined by the public officer, which payment shall be placed in escrow with the Clerk of the Court, County of Camden, pending disposition of the petition.