In accepting such a plan for review, the Planning Commission must be satisfied that the proponents of the development project are financially able to carry out the project; that they intend to start construction within one year of the approval of the project or of the effective date of any necessary change in zoning, whichever is later; and intend to complete the development within a specified time acceptable to the Commission. The Commission may require a financial statement or such other evidence as may be necessary to ascertain the financial standing of the proponents and may require signed statements indicating the proponents will comply with all the requirements of this section.
(Ord. 914. Passed 11-8-66.)