When an application is submitted, the City will obtain a cost
proposal from GMB for the plan review for all City and BPW infrastructure.
Upon receiving the proposal, staff will collect an escrow in
the amount of 150% of this proposal or $5,000, whichever is greater.
Costs associated with the engineering review will be billed
against the escrow, with a statement of charges provided to the applicant.
If the escrow balance falls below $5,000, staff will collect
additional funds for the escrow account to keep a balance of at least
$5,000.
Once plans are finalized, all consultant invoices are paid,
and the development agreement is executed, staff will return any funds
remaining in the escrow account to the applicant.