A. In lieu of actual installation of the improvements required by this section, the subdivider or developer may guarantee the installation of the required improvements by the following method:
1. The subdivider or developer may deposit in escrow with an escrow holder approved by the City Council, an amount of money equal to the cost of the required improvements not then installed as estimated by the City Engineer, as aforesaid, under an escrow agreement to assure the installation of the improvements within two (2) years from the approval of the subdivision plat by the City Council.
2. The escrow agreement shall be approved by the City Council and City Attorney and shall be filed with the City Recorder.
B. The City Council is authorized and directed at the request of the subdivider or his/her successors in interest to release of record from the burden of the covenant and lien aforesaid all lots and parcels of land as to which the covenant and agreement has been fully performed, either by installation of improvements or by the deposit of funds in escrow. The aforesaid covenant and agreement shall be approved as to form by the City Council and by the City Attorney. The City Council is authorized to prescribe by administrative rule or regulation, forms and procedures to ensure the orderly, regular and efficient processing of applications for the approval of a proposed subdivision and the strict compliance with the requirements of this title.
C. The City Council shall, at the request of the subdivider or his/her successors in interest, grant a partial release of an improvement guarantee proportionally as portions of required improvements are completed and accepted in accordance with local ordinance.
D. Whenever the subdivider develops a subdivision a portion at a time, such development shall be in an orderly manner and in such a way that the required improvements will be continuous, and all of the improvements will be made available for the full, effective practical use and enjoyment thereof by the lessees or grantees of any of the lands subdivided within the time hereinbefore specified.
E. The City shall not withhold a building permit on account of an incomplete infrastructure improvement if the improvement is not essential for issuing a building permit under the building and fire codes or if the City has accepted a completion assurance for the improvement.
F. The provisions of this Section do not supersede the terms of a valid development agreement, an adopted phasing plan, or the state construction code. (Ord. 2024-06: Ord. 99-05 §§ 1, 2: Ord. 89-003 § 8(C))