§ 13.02.00. Review deposits.

(a)

Specified review deposits. A review deposit, as established by resolution of the town council and on file in the town clerk's office, per square foot of the project to be developed (the "original deposit"), payable to the town by money order, personal or company check or cashier's check drawn on a financial institution authorized to do business in the county shall be delivered to and collected by the town at the time of submission of each application for review or approval pertaining or related to a subdivision plat, development agreement, planned unit development, a development of regional impact, or new construction of a single-family residence. Said review deposit shall be utilized by the town to reimburse the town for the actual costs incurred and paid by the town as a result of the development activity. In the event the project is developed in phases, the applicant must have in his individual project account a review deposit, as established by resolution of the town council and on file in the town clerk's office, per square foot for the project to be developed before review will begin for the next phase of the project.

(b)

Other development related applications. All other review deposits for applications not included in subsection (a) of this section, shall be delivered to and collected by the town at the time of submission of such other development-related application.

(c)

Waiver of review deposits. In all cases, the town manager may reduce the amount of, or otherwise waive the requirement for, a review deposit if, based upon information from town staff and the applicant, the amount of the fees, costs and expenses relating to the review, processing, inspection and regulation of such, as estimated by the town manager, will not exceed the application fee plus the amount of the reduced review deposit (if any). No review of an application shall commence until the application fee and review deposit, if applicable, is paid. The total development review amount shall be forwarded to the town manager prior to the end of the second business day following the submittal of said application for review or approval. The balance of the review deposit, if any, shall be returned to the applicant as provided for in section 13.03.00. Except as otherwise provided in section 13.03.00, no interest shall be paid on any review deposit on account with the town.

(Ord. No. 2006-18, § 1(13.02.00), 12-12-2006; Ord. No. 2011-03, § 1(13.02.00), 7-12-2011)