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(A) The Town Council finds it necessary to establish an occupancy escrow fee in an effort to reduce the number of structures being inhabited prior to their obtaining an occupancy permit.
(B) The occupancy escrow fee will apply only to new construction the following fee schedule shall apply: residential construction: $1,000. Commercial construction, which includes schools, churches, hospitals and the like: $1,000 for the first 3,000 square feet and $250 for every 500 square feet thereafter.
(C) These escrow fees will be refunded to the applicant as long as they do not occupy their structure prior to receiving an occupancy permit to do so.
(D) In the event that a structure is occupied prior to receiving an occupancy permit, then that amount held in escrow shall be forfeited to the General Fund of the town.
(E) It is established that a fee of $100 shall be charged to the applicant in the event of the foregoing.
(Ord. 2009-749, passed 9-8-2009)