Procedure for approval of the final plat shall be:
(a) The final plat shall be submitted to the City Engineer. If he finds that all requirements of the Subdivision Regulations have been complied with, and it complies with any preliminary plat approved by the Commission and Council, with any modifications required thereto, he shall forward the same to the Commission.
(b) If the Commission finds that all requirements of the Subdivision Regulations, the Planning and Zoning Code and the ordinances of the City have been complied with and that all conditions imposed on any preliminary approval have been met, they shall recommend approval of the plat and send it to Council for final consideration.
(Ord. 37-1955. Passed 4-11-55.)
(c) The owner shall deposit with the City, for the purposes of reimbursement to the City for engineering, inspection and testing for improvements to be made to the subdivision, a sum equal to two and one-half percent (2 1/2%) of the estimated construction cost of all right-of-way improvements, landscaping and the cost of all sanitary sewer and water line and storm water management controls, which sum shall first be approved by the City Engineer. If such deposit proves to be inadequate, the owner, upon notice to do so by the City, shall forthwith pay any cost that exceeded the deposit, and an additional amount determined by the City Engineer to cover the estimated costs of the remaining engineering review, inspections and testing by the City. Any unused surplus shall be refunded to the owner upon completion of the project and upon acceptance of dedication of the improvements for the subdivision. (Ord. 80-1964. Passed 6-8-64.)
(d) Prior to approval of the final plat, the owner shall furnish the Law Director with evidence of insurance for the protection of the owner and the City for all right-of- way improvements to be installed in the subdivision, in an amount no less than Two Million Dollars ($2,000,000.00) per person, Four Million Dollars ($4,000,000.00) aggregate, with One Hundred Thousand Dollar ($100,000.00) property damage coverage, and a deductible or co-insurance of no more than Twenty-Five Thousand Dollars ($25,000.00).
(e) Prior to approval of the final plat, and any improvement plans for the subdivision, the owner shall file with the Law Director a construction performance bond in an amount approved by the City Engineer and with a form and security approved by the Law Director. The Guaranty shall be for a period covering the satisfactory completion of all subdivision improvements, and at least six (6) months longer than the time which the owner agrees to complete the improvements, and shall provide that no extension granted by the Council shall act as a release of the Bond. The Bond, when issued, shall guarantee payment for all improvements until they are installed, approved by the City Engineer and accepted by the City for dedication. If the improvements are not completed within the time agreed to by the owner or any extension granted by Council, the Performance Bond and any Guaranty therefor shall be forfeited and funds therefrom shall be collected by the City to complete the improvements. If completed by the City, it shall charge an additional ten percent (10%) of the cost of such work for administrative overhead. Any funds remaining after completion of the improvements should be returned to the owner and the surety, or financial institution providing a letter of credit, provided an appropriate Maintenance Bond has been filed with the Law Director.
(f) Prior to acceptance of improvements by the City Engineer in a subdivision, the owner shall file with the Law Director a Maintenance Bond in an amount approved by the Engineer in form and guaranty approved by the Law Director. The Bond shall be for a period of twenty-four (24) months after the date of acceptance of the improvements by the City Engineer, any additional period of time necessitated by the owner’s application for inspection of the improvements, review by the City Engineer, and until such time as the Engineer finds that all improvements are acceptable. During this period the owner shall be responsible for maintenance and the correction of any subdivision failures due to faulty or unauthorized construction, erosion, or abuse of such improvements. All improvements have to be in a condition acceptable to the City Engineer at the end of the maintenance period. If the owner fails to perform adequate maintenance to the satisfaction of the City Engineer, the Maintenance Bond shall be forfeited upon action by Council, and the City may use the Maintenance Bond to complete or repair the required improvements. If completed by the City, it shall charge an additional ten percent (10%) of the cost of such work for administrative overhead. At the end of the twenty-four (24) month maintenance period as set forth in this paragraph, the owner shall apply for an inspection of the improvements and submit the same to the City Engineer. The City Engineer shall inspect the improvements. Any necessary corrections found by the Engineer shall be made by the owner, or the Maintenance Bond shall be used by the City to make such corrections. If corrected by the City, it shall charge an additional 10% of the cost of such work for administrative overhead. When the City Engineer finds that all improvements are acceptable and that all other obligations of the owner to the City have been met, he shall so notify the owner and the Bond and any guaranty therefor may thereafter be released.
(g) Guarantees for Performance and Maintenance Bonds may be combined into a single instrument, provided it is in an amount approved by the Engineer and form and guaranty approved by the Law Director. At any time during the existence of approved Performance and/or Maintenance Bonds, the owner may exchange one form of guaranty for another, provided the substitution is approved by the Law Director.
(h) If the Council finds that all of the requirements set forth in the Subdivision Regulations and any conditions or modifications required by the Commission or Council have been met, and all fees, deposits, bonds, and insurance policies have been provided by the owner to the City, the Council shall, by ordinance, approve the final plat to permit construction of improvements and upon acceptance of dedication of all right-of-way improvements by Council, the final plat may then be recorded. After all subdivision improvements have been recommended for acceptance by the City Engineer, Council shall pass an ordinance authorizing recording of the final plat and acceptance of dedication of all streets and other improvements to be accepted for dedication by the City. The acceptance of the dedication clause on the final plat shall not be signed by the Clerk until the City Engineer has certified that the owner has complied with all requirements of the Subdivision Regulations for construction of the improvements, and Council has, by resolution, approved the final plat for record filing and acceptance of dedication of streets.