A. Before recordation, the developer shall install all required public and private infrastructure improvements and restore any existing streets and other public facilities damaged in the development of the subdivision, or execute and file with the City an agreement between the developer and the City of Hayden, for completion of all required public improvements and repairs to public infrastructure associated with the subdivision. The agreement shall specify the period within which required public infrastructure improvements and repairs shall be completed, and specify all improvements that shall be completed prior to the issuance of certificates of occupancy within the subdivision. Based on the need to maintain access to existing infrastructure, public safety needs, and the like, the City Engineer shall determine which improvements can be bonded for and, if applicable, those which shall be constructed prior to final plat recordation. The agreement shall be accompanied by surety, consisting of a cash deposit, certified check, irrevocable letter of credit or other form of security approved by the City Attorney, in the amount of one hundred fifty percent (150%) of an engineer's stamped estimated cost of construction accompanied by detailed support documentation for the public improvements to be completed. In the event that the developer does not meet timely completion of the improvements, the City may proceed against the guarantee. If the cost of completion of the improvements exceeds the amount of the guarantee, the City may recover the full cost and expenses thereof from the developer. (Ord. 578, 1-9-2018)
B. For a phased subdivision, the required surety shall be for the phase which is being developed. (Ord. 542, 1-27-2015)