2384-13 Memorandum of Understanding.pdf

Township of West Orange Page 5 of 6 Reward Programs / MOU IDENTITY OF PARTICIPATING MERCHANTS The Applicant shall coordinate, receive and review all applications by local businesses to become a Participating Merchant. In the event that the Applicant receives an application to become a Participating Merchant from a business located outside the Township, the Applicant shall review same, and any approvals shall be subject to the review and approval of the Township’s Chief Financial Officer and/or Business Administrator, which approval shall not be unreasonably withheld. DISCLOSURE OF PROGRAM FEES It is understood that certain fees will be incurred in connection with administration of the Shop West Orange Program, and a listing of such fees shall be submitted with the Administrator’s application for a license to operate the Shop West Orange Program. Such fees are currently as follows: 1. Costs to Participating Merchant:  Hardware Costs are a $160, one-time cost for the dial up processing machine ($230 dual comm. IP). They may also opt for processing via the Administrator’s Web site in which case the cost is $0, or $50 if the Participating Merchant wishes to purchase a card reader. The cost of equipment is subject to change.  $10 monthly processing fee.  No additional costs will apply. Administrator agrees to waive its customary $0.15 cents per swipe fee. 2. Other costs :  For providing ongoing services as Administrator of the Shop West Orange Program, Administrator will retain twenty-five (25%) percent of the Property Tax Reward credit provided by Participating Merchants to Taxpayer Consumers.  Example: A Participating Merchant chooses a ten percent (10%) property tax credit on sales. If a homeowner makes a $100 purchase, creating a $10 property tax credit, the homeowner will receive $7.50 and the Administrator will retain $2.50 for program expenses and administration fees.