(A) Performance (or “completion”) bonds for public improvements. On all projects where public improvements are required, the city shall require a bond in an amount equal to the contract amount of the public improvements as a condition of site development approval in order to guarantee the public improvements. The city shall be named “obligee” on all bonds.
(B) Release of performance bonds. The bond or assurance shall be released at the end of a one-year warranty period, which shall begin when the Planning Official finds the completed project conforms to the site development approval, including all conditions of approval.
(C) Completion of landscape installation. Landscaping shall be installed prior to issuance of occupancy permits, unless security equal to 150% of the cost of the landscaping as determined by the Planning Official or a qualified landscape architect is filed with the Planning Official assuring such installation within six months after occupancy. If the installation of the landscaping is not completed within the six-month period, the security may be used by the city to complete the installation.
(D) Dedication of real property; city obligation. In situations where this chapter requires the dedication of real property to the city, the city shall either:
(1) Include in the written decision evidence that shows that the required property dedication is directly related to and roughly proportional to the projected impacts of the development on public facilities and services; or
(2) Delete the dedication as a condition of approval.
(Ord. 2009-01, passed - -2009)