(A) For subdivisions not providing any required improvements and subdivisions creating only one lot.
(1) For subdivisions that will provide no required improvements and/or create only one new lot, preliminary subdivision application approval by the Town Council shall serve as final subdivision approval. Following approval of the preliminary subdivision application, the preliminary subdivision plat shall be revised, as required by the Town Council, and presented to the Town Clerk for review. If it complies with all Town requirements for a final plat and all conditions imposed by the Town Council, it may be recorded
(2) Approval by the Town Council shall not authorize the division, transfer, sale, or development of land until the final subdivision plat has been recorded.
(3) Approval of a preliminary subdivision application that includes no required improvements and/or creates only one new lot shall be effective for a period of one year from the date of approval by the Town Council.
(4) If a preliminary subdivision plat is not revised as required by the Town Council and presented to the Town Clerk for review and recordation within one year from the date of approval, the preliminary subdivision application approval shall be void, and the applicant required to submit a new preliminary subdivision application, subject to the then existing application and approval requirements.
(B) For subdivisions providing required improvements or creating more than one new lot.
(1) For subdivisions that are required to provide required improvements, approval of the preliminary subdivision application by the Town Council shall include approval and execution of a development agreement that permits the applicant to proceed with the construction and installation of improvements, either for the entire subdivision, or by phase.
(2) A final plat or, for phased subdivisions, plats shall be prepared and submitted to the Town Clerk for review and recording upon completion, inspection, and acceptance of the required improvements. No lot may be offered for sale or transfer, sold or transferred, until the final plat is recorded.
(3) Each development agreement shall include provisions stating what happens if improvements are not completed and/or a final plat is not recorded as scheduled in that agreement. Renegotiation of the agreement may be allowed, but failure to comply or to renegotiate in a timely manner (with 'timely' being specifically defined) shall render the Town's approval of the subdivision void.
(Ord. 49, passed 3-5-2003; Ord. 49A, passed 3-3-2004; Ord. 58, passed 5-8-2008, § 400-7; Ord. 2023-1, passed 12-7-2023)