(a)   Submission of Plan. A developer may submit to the Village for final plan approval all or part of the plan for which preliminary approval has been received. Any final plan for a part of the larger development shall be such that its proportional share of the common space shall be included in and contiguous to the area to be developed, and such partial development shall be capable of standing on its own with respect to necessary improvements, circulation, facilities and open space.
   (b)   Planning Commission Action. After a study of the proposed final plan for a Planned Unit Development or part thereof, the Planning Commission shall, within 60 days of the receipt of such plan, recommend to Council approval, approval with modification or disapproval of the project. The Commission shall prepare a report explaining its action. The Commission shall recommend approval of a final plan unless it is determined that such final plan is not in accordance with the approved preliminary plan, or unless such final plan, when a part of a total proposed plan, does not represent a proportion of all of the critical elements of such plan.
   (c)   Council Action. Within 60 days of the receipt of a recommendation from the Planning Commission, and after the execution of the agreement by the developer, as required in subsection (d) hereof, Council shall approve, approve with modification or disapprove of the final plan. A final plan shall be approved unless it is determined that it is not in conformance with the approved preliminary plan or that such final plan, when a part of the total proposed plan, does not represent a proportional part of all the critical elements of such plan. Council shall set forth in writing the basis for its decision and any conditions relating to an affirmative decision.
   (d)   Agreement Required. Prior to final plan approval by Council, the developer shall have executed and submitted, in duplicate to the Clerk, an agreement with the Village setting forth:
      (1)   The specific location and use of all common lands and common facilities within the development;
      (2)   The organizational structure of the homeowner's association and the provisions for implementation of transfer of control to such association from the developer;
      (3)   The methods for levying assessments on the common lands and facilities, both with respect to taxes, and operation and maintenance fee;
      (4)   Provisions enabling the Village to enter in and maintain such common lands and facilities when the developer or the homeowner's association has failed to do so, along with the procedure for assessing such costs back to the development;
      (5)   Provisions for a financial guarantee sufficient to cover the cost of any public and common improvements; and
      (6)   Provisions to allow the Village to enter and complete such improvements if the developer has failed to do so within the stated period of time.
   This agreement shall be approved as to form and content by the Village Attorney.
(Ord. 2002-5. Passed 12-9-02.)