Where storm sewer, sanitary sewer or water facilities are made larger than is immediately required to serve the land described in the final plat, due to the necessity of service to adjacent and/or presently vacant property as it shall be developed in the future by others, the subdivider shall be reimbursed for such additional costs on the following terms and conditions:
A. The village engineer shall determine the cost of such storm sewer, sanitary sewer and/or water facilities as are required to serve only the immediate needs of the property described in the plat. The village engineer will also determine the cost of such facilities actually required to serve the plat in question and the adjacent land when developed.
B. The difference in cost in the above determinations shall be paid to the original developer by the developers of adjacent properties. At the time the adjacent properties are submitted for subdivision, the village engineer shall apportion the benefit received by the adjacent property developer by reason of the increased facilities. The adjacent property developer shall pay the sum of money equal to his proportionate share of the cost of the increased facilities.
C. The village may, as determined by the village board of trustees, act as the collecting agent in regard to increased facility sharing. In such cases, an administrative handling charge of five percent (5%) shall be applied to the adjacent developer's share and retained by the village. Upon receipt of such proportionate share payment by the adjacent property developer, the village shall reimburse the developer who originally installed the increased facilities. (1976 Code § 152.040)