An escrow shall be established to cover costs incurred by the village in reviewing subdivision, development, or redevelopment applications, and shall be paid at the time of such application is filed.
(A) Non-refundable fee and escrow deposit. An escrow deposit shall be established, the most current escrow requirements shall be available from the Village Clerk. Such fees shall be submitted to the Comptroller at the time of application. The escrow deposit for such purposes shall apply to proposed subdivisions, developments, or redevelopments.
(B) Recoverable expenses. From the date of filing an application for a subdivision, development, or redevelopment, as authorized in this chapter, the Comptroller shall maintain accurate records of all expenses incurred by the village in reviewing and acting upon such applications. Expenses incurred by the village shall be reimbursed by the applicant. Reimbursable expenses may include, but are not limited to:
(1) Legal notice in newspaper;
(2) Plan Commission secretarial services;
(3) Village staff time for application review;
(4) Village Attorney fees;
(5) Document preparation and review;
(6) Professional and technical consultant services;
(7) Copy reproduction; and
(8) Document recording.
(C) Deposit settlement. Prior to the final approval of a subdivision, development, or redevelopment application, the Comptroller shall detail all applicable expenses involved in reviewing the application and require the payment of any additional monies prior to final action on the application. In the event monies remain, after accounting for applicable recoverable expenses, the Comptroller shall refund the balance of the escrow deposit to the applicant. The refund check shall be accompanied by a statement of expenses incurred. No interest shall be paid on the escrow deposit.
(Ord. 7-42, passed 6-20-07)