Every petition or application shall be accompanied by the required filing fee plus a security deposit that shall be determined in the sole discretion of the village administrator and shall be based on the size of the project that shall be deposited into a recoverable cost escrow account established by the village. No interest shall be payable to the responsible parties on any funds retained in such escrow account. The village is specifically authorized to apply this security to the payment of such fees, costs, and expenses in the event the owner or petitioner fails to make payments as required in this chapter. The responsible parties shall be obligated to continuously maintain this amount of deposit with the village until a final determination has been made by the corporate authorities on the petition or application. (Ord. 2011-19, 12-6-2011)