What is the Policy & Procedure of the Planning Board re: Escrow Accounts?


At the time of submission of any application before the Planning Board, an initial escrow of $2,500 shall be established with the application. The applicant shall then provide any additional funds to the Village for deposit into such account in the amount to be determined by the Planning Board based on its evaluation of the nature and complexity of the application. When the balance in such escrow account is reduced to 1/2 of the initial escrow amount or the amount established by the Planning Board, whichever is higher, the applicant shall deposit additional funds into such account to bring its balance up to the amount of the initial deposit. If such account is not replenished within 30 days after the applicant is notified, in writing, of the requirement for such additional deposit, the Planning Board may suspend its review of the application. A building permit or certificate of occupancy shall not be issued unless all professional fees charged in connection with the applicant's project have been reimbursed to the Village. After all pertinent charges have been paid, the Village shall refund to the applicant any funds remaining on deposit.

[Amended 7-20-2015 by L.L. No. 3-2015]