§ 125-5. Maintenance of escrow account.

Where the permitting authority possesses authority under SEQRA or this article to impose costs or fees on an applicant as described in this article and where such permitting authority determines that an applicant will be required to make payments to the village as provided in this section, such permitting authority may approve a resolution establishing the amount of money that the applicant is initially required to deliver to the Village Clerk-Treasurer for deposit in a Village of Cedarhurst noninterest-bearing escrow account maintained by the Village of Cedarhurst for custody of funds collected pursuant to this article.