(a) All improvements required in these Subdivision Regulations shall be constructed prior to the granting of the final plat approval by the Planning and Zoning Commission. However, the subdivider may furnish the city with a surety bond, a cashier's or certified check, a pledge agreement with a passbook or any other method approved by the city, for the amount of the estimated construction cost for the ultimate installation and initial maintenance of the improvements, guaranteeing to the city that such improvements will be constructed and completed in a satisfactory manner within a period specified by the City Engineer, but not to exceed two years from the date of the final plat approval, except as provided in § 1248.04. Such guarantee shall be approved by the Director of Law and shall be made payable to, and enforceable by, the city, and shall provide that the subdivider, his or her heirs, successors and assigns and their agents or servants will comply with all applicable terms, conditions, provisions and requirements of these Subdivision Regulations. Upon the satisfactory completion of the improvements and the approval of the same in writing by the Engineer, and with the presentation of letters of certification of payment in full of all contractors, subcontractors, suppliers of materials, engineers and surveyors and all inspection fees or other fees incurred by the installation of the improvements by the subdivider, the bonds may be released, in writing, by the Director of Finance or the cashier's or certified check may be returned to the subdivider, except that an amount equal to 15 percent of the estimated construction cost of the improvements shall be retained for a period of 24 months beyond the completion date of the project. Upon the completion of the 24-month period and with the approval in writing of the Engineer, the amount of the retainage shall be released, except as provided in § 1248.04, to the subdivider.
(b) Improvements shall also be subject to the following chapters of these codified ordinances.
(1) Requirements of Chapter 1464 Erosion and Sediment Control shall apply to all land disturbing activity. Plans shall be reviewed by Lake County Soil and Water Conservation District.
(2) Requirements of Chapter 1466 Comprehensive Stormwater Management shall apply to drainage improvements. Figure 1248-1 shall be followed for detention basin outlet facilities.
(Ord. 17-O-35, passed 11-20-2017)