A. The Village Manager, or the Manager's designee, shall require the professionals the Village engages in connection with the review of, and any action in response to, any application or petition to keep reasonably detailed records of their services performed and to invoice the Village no less frequently than monthly.
B. The Village shall draw on the funds deposited in the escrow account to pay, at the rates established by the Village Council, the invoices for professional services, as required by the Village Code, rendered in connection with the review of, and any action in response to, the application or petition. The Village Manager shall approve all draws from the escrow account, keep a written record of the draws, and send a written record of all draws to the applicant.
C. The Village Manager, or the Manager's designee, shall monitor the balance of funds on deposit in the escrow account to assure that sufficient funds are available to defray the cost of all professional services performed in connection with the review of, and any action in response to, the application or petition. If, at any time, the Village Manager determines that sufficient funds are not available, the Village Manager shall estimate the cost of the foreseeable remaining required professional services and send written notice to the applicant or petitioner requiring an additional amount to be deposited in the escrow account within 14 days after receipt of the notice, all in accordance with the escrow agreement and the process set forth in Section 15.74.040
. The Village Manager may instruct the professionals engaged in connection with the review of, and any action in response to, the application or petition to cease performing further services until the additional amount requested has been deposited into the escrow account. (MC-6-2014 § 2, 09/02/2014)