(a) For projects involving the construction of new structures or additions requiring changes in topography as determined by the Village Engineer, the applicable amounts set forth below shall be deposited with the Village, in cash or by certified check:
(1) Five thousand dollars ($5,000.00) for residential buildings and structures.
(2) An amount equal to 2% of the estimated total cost of construction of the site work including landscaping, with the minimum deposit being fifteen thousand dollars ($15,000.00), for non-residential buildings and structures. A surety bond for deposits over thirty thousand dollars ($30,000.00) is acceptable. A copy of the site work costs shall be provided to the Village Engineer for review and approval to determine the deposit amount.
(b) The deposit collected pursuant to this section shall be in addition to fees and deposits otherwise required by the Codified Ordinances.
(c) If the final grading and drainage work is completed and determined to be in conformance with the approved plans after an inspection by the Village Engineer, any deposit made pursuant to this section shall be returned, to the person, firm or company that made the deposit within a reasonable amount of time after completion of the work.
(d) If the final grading and drainage work is not approved after an inspection by the Village Engineer, the property owner or the property owner's contractor will be notified of the deficient items in writing and given a reasonable time to correct the deficient items. If the property owner or the property owner's contractor fails to correct the deficient items within sixty (60) days after receipt of the notice or another time period approved by the Village Engineer, no deposit required by the provisions of this section shall be returned and the proceeds of such deposit shall be deemed forfeited. The proceeds of such deposit shall be the property of the Village.
(e) Final grading completion shall include the final stabilization of the project site in conformance with Section 971.02(k).
(f) Any deposit that is unclaimed by the person, firm or corporation that made the deposit pursuant to this section for a period of at least two years after the date of completion of the required improvements shall be deemed forfeited. The proceeds of such deposit shall be the property of the Village. (Ord. 2014-71. Passed 10-12-14.)