For a subdivision within the village, the subdivider shall pay to the village an amount equal to 10% of the estimated cost of the improvements. Such fee is to cover the village’s expenses related to plan reviews, engineering, inspections and testing, legal services and other expenses related to the development of the sudivision including infrastructure. In addition, such fee is to cover a pro rata portion of the village’s expenses with regard to annexation, zoning and approval of the preliminary development plan and development standards text, which pro rata portion shall be determined by the Mayor based on actual invoices for professional services allocated on a per lot basis. This fee shall be paid by the subdivider prior to the start of any construction and prior to obtaining the required signatures on the final plat. If the subdivision includes more than one plat, the fee shall be paid on a plat-by-plat basis. If expenses are estimated to be incurred beyond the amount of 10% of the estimated cost of improvements, the Mayor shall estimate the additional deposit necessary to cover the village’s costs and this additional deposit will be billed to the subdivider payable within 30 days. Upon written application by the subdivider to the Mayor within 12 months from the date of final acceptance of the improvements, any remaining balance of the additional deposit shall be refunded to the depositor. If the depositor fails to make such written application for refund of the remaining balance of the additional deposit, the funds shall be forfeited to the village.
(Ord. 5-89, passed 5-8-1989; Ord. 04-2014, passed 6-2-2014)