(A) Deadline for completion. Prior to the granting of record plat approval, the subdivider and the governing body shall agree upon a deadline for the completion of all required improvements, such deadline not to exceed two years from the date of record plat approval. The governing body shall have the power to extend that deadline for one additional year where the subdivider can present substantial reason for doing so.
(B) Acceptance denied; failure to comply; actions. If any portion of the required improvements shall fail to be accepted for dedication in compliance with § 159.069 of this chapter within the allocated time period either for reason of incompletion or substandard construction, then one of the following actions shall be taken:
(1) Where improvements have been guaranteed under § 159.065 of this chapter, the Planning Commission shall revoke preliminary plat approval.
(2) Where improvements have been guaranteed under § 159.066(A), (B) or (C) of this chapter, the governing body shall take the necessary steps to secure payment under the form of guarantee employed. Where the governing body is not already in possession of said guarantee, it shall immediately take the actions necessary to obtain it. Upon receipt of these securities, the governing body shall use them to finance the completion of contracted improvements or the rebuilding of such improvements to the proper specifications. Unused portions of these securities shall be returned to the subdivider, bonding company or crediting institution, as is appropriate.
(Prior Code, § 11-5-3) (Ord. 594, passed 8-5-1997)