(A) (1) To ensure compliance with the chapter and any conditions imposed, the Planning Commission and/or Village Council may require that a cash deposit, irrevocable letter of credit, certified check, or surety bond acceptable to the village covering the estimated cost of improvements be deposited with the Village Clerk to ensure faithful completion of the improvements.
(2) The performance guarantee shall be deposited at the time of the issuance of the zoning permit.
(B) (1) The village shall not require the deposit of the performance guarantee until it is prepared to issue the zoning permit.
(2) If requested by the applicant of the site plan review, the village shall rebate any cash deposits in reasonable proportion to the ratio of work completed on the required improvements as work progresses.
(Ord. 160, passed 4-21-2022)