(a) The Planning Commission may defer or waive at the time of final approval, subject to appropriate conditions, the provision of any or all such improvements as, in its judgment, are not requisite in the interests of the public health, public safety, and general welfare, or which are inappropriate because of inadequacy or lack of connecting facilities.
(b) Whenever it is deemed necessary by the Planning Commission to defer the construction of any improvement required herein because of incompatible grades, future planning, inadequate or lack of connecting facilities, or for other reasons, the applicant shall pay his share of the costs of the future improvements as approved by the Village Administrator and Village Council to the Village prior to the signing of the final subdivision plat.