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DEPOSITS REQUIRED FOR DEVELOPERS AND OTHERS
(A) Property owners, petitioners and others seeking village plan approval (applicants) shall enter into a written agreement and pay and reimburse the village for any and all administrative expenses, special meeting, costs and any and all fees, costs, salaries or compensation incurred by the village or charged to the village by retained personnel or an outside consultant for work in connection with the proposed subdivision of land, development of land, construction of land or any other project or plan review where the village is charged fees.
(B) RETAINED PERSONNEL shall be defined as any engineer, attorney, planner, plan or code reviewer, economist, or other technical, professional or expert paid or retained by the village to assist or advise the village, directly or indirectly, in connection with any aspect of a proposed subdivision of land, development upon land, or construction of land in the village.
(Ord. 08-10, passed 6-2-2008)
The applicant shall deposit with the Village Clerk at the time of application a sum to be calculated as set forth below on the basis of the amount of territory to be subdivided, developed or constructed to be used toward defraying aforesaid expenses, costs, fees, salaries and compensation.
Acreage | Initial Deposit | Minimum Balance |
Up to 5 | $3,000 | $1,000 |
6 to 25 | $10,000 | $5,000 |
26 to 100 | $15,000 | $5,000 |
101 to 200 | $25,000 | $10,000 |
201 to 400 | $40,000 | $10,000 |
401 plus | $50,000 | $10,000 |
(Ord. 08-10, passed 6-2-2008)
The funds shall be deposited and maintained in a separate developer escrow account, separate and apart from the general funds of the village; provided, however, the funds may be commingled with other developer deposits in a single bank account with separate accounting of each applicant's funds. Interest on any such account or funds shall accrue to the village.
(Ord. 08-10, passed 6-2-2008)
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