913.09 REFUNDS.
   (a)   Upon application of the property owner, the Village shall refund that portion of any Impact Fee which has been on deposit more than five years and which is both unexpended and uncommitted, except as described in subsection (b) of this section. The refund shall be made to then-current owner or owners of the lots or units of the Development Project.
   (b)   If fees in the Impact Fee Account are unexpended or uncommitted during the fifth year, the fees are exempt from the refund provisions of subsection (a) of this section if Village Council makes the following findings:
      (1)    A need for the capital improvement still exists;
      (2)    The fees will be used for an identified purpose; and
      (3)   The purpose for which the fees will be used is substantially similar to the purpose for which the fees were collected.
   (c)   The Village may refund by direct payment, by offsetting the refund against other Impact Fees due for a Development Project by the owner on the same or other property, or by separate agreement acceptable to the owner and the Village Council.
(Ord. 96-112. Passed 4-4-96.)