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(A) Before starting construction of any Subdivision Improvements, the subdivider shall be assessed and shall deposit with the Zoning Administrator for the village an amount equal to two and one half percent (2.5%) of the estimated construction cost (including but not limited to grading, drainage, roadway, sidewalk, sewer, waterline and other improvements which are to be dedicated to public use or which benefit the subdivision generally) as approved by the village engineer. The Zoning Administrator shall cause such funds to be deposited in the General Fund of the village.
(B) The foregoing fee is intended to reimburse the village for charges of the village engineer in connection with the review and inspection of the preliminary and final plats and the construction of the Subdivision Improvements. In the event that the engineering expenses incurred by the village are in excess of the amount initially paid by the subdivider, the village shall bill the subdivider for the difference, and such amount shall be paid by the subdivider prior to acceptance by the village of the final plat. However, the subdivider shall not be entitled to any refund in the event the fees actually charged to the village by the village engineer is less than 2.5% of the estimated construction costs.
(Ord. 94-01, passed 1-25-94; Am. Ord. 05-05, passed 2-22-05; Am. Ord. 16-14, passed 3-22-16; Am. Ord. 16-35, passed 6-28-16)