§ 50.552  ELECTRIC DEVELOPMENT FEE.
   (A)   The developer shall pay, within ten days of acceptance of the final plat of a new residential subdivision, or such other time as may be agreed in writing by developer and the village, the sum of $1,200 per platted lot. This sum is an estimated per lot cost of developing an electric system and emergency warning system as of the date of adoption of these regulations. This sum shall be adjusted from time to time by the Utilities Manager to reflect the actual cost of constructing the improvements. If the actual cost of constructing the improvements is greater than $1,200 per lot, the developer shall be required to pay a supplemental fee of the difference. If the actual cost is less than $1,200 per lot, the village shall refund the difference. Actual cost shall be computed using the actual cost of materials, engineering fees, easements, and labor costs (including fringe benefits and payroll taxes), plus the fair market value of the use of village equipment, plus the actual cost of any subcontracts, plus any other out-of-pocket expenses, plus a reasonable amount for overhead and administration (at least 15% but not more than 35%).
   (B)   This section shall apply to any final plat accepted after March 1, 2005.
(Ord. 95-16, passed 3-28-95; Am. Ord. 06-46, passed 8-22-06; Am. Ord. 09-37, passed 7-28-09; Am. Ord. 16-15, passed 4-26-16)