A. Amount Of Deposit: In order to cover the costs of plat examination and other expenses incidental to the approval of a subdivision, the developer shall pay to the village a deposit of five thousand dollars ($5,000.00) at the time of application for approval of a tentative plat.
B. Use Of Deposit: The village shall not commence review of the application until said deposit is paid by the developer. The actual costs or fees that the village incurs in reviewing the developer's application, including, but not limited to, engineering, consulting, attorney or other profession fees, filing, recording, or publication costs shall be deducted from said deposit. The balance of the deposit, less the amounts deducted by the village for actual fees and costs incurred in the course of reviewing the application, shall be refunded to the developer upon approval of the final plat, or the last portion thereof, or at such time as the developer withdraws the application. Upon request, the village shall provide to the developer copies of receipts for any amounts deducted from the deposit.
C. Additional Deposit: During the course of the application review process, the developer may be required to provide the village with an additional deposit if the review of the application has resulted in, or reasonably will result in, the village incurring fees or expenses that exceed the initial deposit provided by the developer. The village shall not continue with the review of the application until said additional deposit is paid by the developer. (Ord., 12-27-2007)