All developments are required to establish an Imprest in order to create a development account and begin the review process with ACWWA. This requirement applies to new development, redevelopment and tenant finish.Development and redevelopments require a $10,000.00 Imprest deposit, whereas a Tenant Finish requires a one-time fee of $1,000.00
The Imprest account is an account established by ACWWA from funds provided by a developer or other applicant that is to be used by the ACWWA to pay for labor and/or materials furnished by ACWWA or for work done on the developer’s or applicant’s project. Such work may include plan reviews, design, engineering, construction, legal, consulting and in-house costs.
Throughout the development process, whenever the Imprest balance reaches approximately $2,500.00, ACWWA will review the account to determine if the balance is sufficient to cover the remaining costs of the development. If it is determined that the balance is not sufficient, ACWWA will invoice the applicant to replenish the account to $10,000.00. Based upon the magnitude of the project, ACWWA may need to repeat this process until construction is complete and Probationary Acceptance has been granted.
Any remaining balance of the Imprest Account will be refunded to the Applicant within Ninety (90) days after the issuance of Probationary Acceptance.If remaining funds are not sufficient to cover final costs; upon receipt of final invoice, the applicant shall promptly submit final payment to ACWWA.
If during the development process it is determined by the applicant that construction will not proceed as previously planned, upon written notice from the Applicant that such change has occurred with the development, any balance held in the Imprest Account will be returned.