In consideration for the agreement by the Owner/Developer of the land being developed to install utilities and/or streets to sizes and configurations in excess of the needs of the land being developed, the Village shall share in the cost of the excess size and configuration of the utilities and/or streets as stipulated herein.
(a) A utility or street shall be considered excessive to needs of the land being developed when:
(1) The Village specifically requires a greater width, size or configuration of street for the purpose of meeting the future needs of the Village as provided for in approved systems studies.
(2) There is additional pavement width and depth and/or additional length of storm sewers and other improvements required for all thoroughfares.
(3) The Village requests that a waterline be more than eight (8) inches in diameter or more when such size is not required to meet the needs of the land being developed.
(4) A sanitary sewer line is eight (8) inches in diameter or more unless this size is required for the land being developed by reason of grade or trench loading requirements of the land being developed or because of anticipated flow from the land being developed.
(5) Other conditions warrant cost sharing and such conditions are approved by Village Council.
(b) The Village shall share in the cost of improvements by:
(1) Paying for all the material costs only for the size difference of the waterline, sanitary sewer pipe and the appurtenances thereto between what is required for the land being developed and what is excessive to the needs of the land being developed.
(2) Paying for all materials F.O.B. the plant, factory, supply depot or warehouse for such other improvements that are excessive to the land being developed.
(c) Nothing in this section shall be interpreted, read or construed to obligate the Village for expenses incurred by the Owner/Developer, contractor, subcontractor or other persons because of:
(1) Equipment or labor cost due to the oversizing or increased depth of waterlines or sewers;
(2) Equipment, labor or material cost due to improperly and/or unacceptable installed improvements including the removal and replacement thereof; or
(3) Any improvements installed prior to the approval of the cost sharing by the Village.
(d) Upon approval of the preliminary plat by Planning and Zoning Board, the following procedure shall be followed:
(1) The Owner/Developer shall submit to the Planning and Zoning Board a list of all improvements eligible for cost sharing and the amount of these costs. The Planning and Zoning Board shall submit such material to the Village Engineer for review;
(2) Upon review by the Village Engineer and recommendation by the Planning and Zoning Board, an ordinance shall be submitted to Village Council for approval, appropriating funds to cover the Village's portion;
(3) Upon completion and acceptance of the work and quantities thereof by the Village Engineer, the costs shall be certified to the Village Fiscal Officer by the Village Engineer.
(e) Failure of the Owner/Developer of the land to provide the Planning and Zoning Board and/or Village Engineer with copies of billings, invoices, contracts, agreements or such other evidence of construction costs as the Board deems necessary within six months of completion and acceptance of the improvements by the Village, shall constitute just cause to declare the agreement to cost share as provided herein, null and void and no reimbursement shall be made or moneys paid without reapproval by Council.