(A) Any person who initiates any development may apply for a credit against the fair share impact fee imposed by this subchapter for any contribution, payment, construction, or dedication of land accepted and received by the village for capital improvements within the same Impact Fee Use District as the proposed development. No credit shall exceed the impact fee imposed by this subchapter for the proposed development. Any approved credit shall be assigned to the proper road or water impact fee.
(B) An applicant shall be entitled to a credit equal to the dollar value of the cost of off-site improvements previously contributed, paid for or legally obligated to by the applicant or his or her predecessor in interest. The cost of the improvements shall be based on the following criteria:
(1) The actual cost or estimated cost of improvements based on recent bid sheet information of the village or other local government agencies; and/or
(2) A qualified appraisal of the fair market value of any land at the date the impact fee is payable.
(C) The property owner may apply for a determination of entitlement to credit by submitting an application for a determination of credit to the Village Administrator. The application shall include the following information:
(1) A proposed plan of specific improvements, prepared and certified by a duly qualified and licensed state professional engineer; and
(2) The projected costs for the suggested improvements, which shall be based on local information for similar improvements, along with the construction timetable for the completion of the improvements. These estimated costs may include the costs of all labor and materials, the cost of all lands, property, rights, easements, and franchises acquired, financing charges, interest prior to and during construction and for one year after completion of construction, cost of plans and specifications, surveys of estimated costs and of revenues, costs of engineering and legal services, and all other expenses necessary or incident to determining the feasibility or practicability of the construction or reconstruction.
(D) Within 15 working days of receipt of an application for a determination of credit, the Village Administrator shall determine if the proposal is complete. If it is determined that the proposed credit agreement is not complete, the Village Administrator shall send a written statement to the applicant outlining the deficiencies. The Village Administrator shall take no further action on the proposed credit agreement until all deficiencies have been corrected.
(E) Once the Village Administrator determines the credit agreement is complete, the Village Administrator shall, within 15 working days, review the application and shall recommend the proposed credit agreement for approval by the Village Council if it is determined that the proposed capital improvement is consistent with the capital improvements in the Comprehensive Plan for the village's infrastructure system and the proposed costs for the suggested improvements are professionally acceptable and fairly assess the cost for the capital improvement.
(F) Any person may appeal the Village Administrator decision on any credit agreement he or she submits by filing a petition with the Village Council within ten days of a decision by the Village Administrator.
(Ord. 5-97, passed 1-7-1997; Ord. 17-2017, passed 2-21-2017)