(A) Needs assessment. Before or in conjunction with the adoption of development impact fees, the village shall conduct a needs assessment for public facilities which are to be funded with the development impact fees. The needs assessment shall:
(1) Determine and distinguish between existing deficiencies and projected new development needs.
(2) Inventory existing public facilities.
(3) Identify the level of service standard applicable to each of the inventoried public facilities.
(4) Identify the level of service standards upon which the development impact fee is to be based.
(B) Imposition, calculation and collection of development impact fees and administrative fees.
(1) The village shall impose development impact fees as a condition of approval of all new development projects.
(2) Development impact fees shall be imposed prior to issuance of any building permit.
(3) Development impact fees shall be determined using the values contained in the impact fee schedules.
(4) The following fees shall be collected by the village, or, for fire impact fees, by the East Dundee and Countryside Fire Protection District if authorized in an intergovernmental agreement between the village and the East Dundee and Countryside Fire Protection District, prior to issuing any building permit for a development: development impact fees, in the amount calculated and due pursuant to this chapter; and administrative fees, in the amount set forth in the annual fee resolutions.
(C) Transfer of funds to accounts.
(1) Upon receipt of the applicable development impact fees and administrative fee, the Village Building Department shall forward such fees to the Village Finance Department. The administrative fee shall be deposited into the village's general fund. The development impact fees shall be deposited and disbursed as set forth in this chapter.
(2) Establishment and maintenance of accounts.
(a) The Village Finance Department shall establish an account in a bank authorized to receive deposits of the village's funds.
(b) The development impact fee deposited in the account shall be used solely for the purposes specified in this chapter.
(c) The Village Finance Department shall maintain and keep adequate financial records for each such account, which shall show the source and disbursement of all revenues, and which shall account for all moneys received.
(D) Disbursement of funds.
(1) Development impact fees may be expended only for the uses set forth in § 159.06 of this Code.
(2) Development impact fees may be used to repay the village if the village constructs the public facilities using other funding resources, and may be used to pay the principal, interest and other costs of bonds, notes and/or other obligations issued or undertaken by or on behalf of the village to finance such public facilities' capital improvements.
(3) Where a development impact fee is not used for the purpose for which it was imposed or collected, such development impact fee shall be refunded pursuant to this chapter. The refund shall be paid to the party who owns the property at the time the refund is made.
(E) Waiver of development impact fee. The Village Board of Trustees may waive from development impact fee programs particular types and locations of development that are determined to serve an over-riding public interest, provided, however, that the waiver does not result in an increase in the development impact fee for other properties in the village.
(Ord. 05-17, passed 8-15-2005; Am. Ord. 20-34, passed 9-14-2020)