(A) No final plat of any subdivision of land within the corporate limits of the city shall be recorded in the Recorder’s office of the county, or have any legal force or effect until it receives all approvals consistent with this chapter and the following requirements are met to the satisfaction of the Director of Community Development and the City Engineer.
(1) All conditions of final plat approval that are required to be met prior to recordation of the final plat shall be satisfied.
(2) Copies of the final plat, in number and form as directed by the Director of Community Development, in a form ready for recording, shall be submitted to the Community Development Department.
(3) All documents related to the conveyance of any land to be dedicated for public streets, alleys, schools, parks or any other public use shall be submitted in a form acceptable to the City Engineer.
(4) All applicable fees shall be paid.
(5) (a) A subdivision agreement, in a form acceptable to the City Engineer and City Attorney, shall be submitted to the city.
(b) Said agreement shall document that the developer or property owner agrees to install and bear the cost of installing infrastructure as detailed on the approved engineering plans and consistent with the approvals granted by the City Council for the final plat of subdivision.
(c) A construction schedule and maximum times for completion of installation of all improvements as detailed on the approval final engineering plans shall be set forth in said agreement.
(6) (a) A properly completed and executed letter of credit or other comparable financial guarantee as may be approved by the City Engineer and City Attorney with an expiration date of not less than 90 days after all improvements are to be completed in accordance with the timetable set forth in the subdivision agreement shall be submitted to the Community Development Department.
(b) Said financial guarantee shall be provided in an amount as required by the City Surveyor and Engineer, but in no case shall it be less than 110% of the Engineer’s estimate of the cost of the improvements, as set forth in the plans and specifications required under this chapter, plus the cost of engineering inspections, as set forth in the fee schedule.
(c) The financial guarantee shall always be maintained in an amount not less than 100% of the estimate of any balance due for improvements.
(d) The financial guarantee shall serve as security for:
1. The faithful performance by the developer or property owner in full conformance with the subdivision agreement and all ordinances of the city; and
2. Any expenditure, damage or loss incurred by the city and all costs and expenses incurred by the city in connection with any failure to comply.
(e) The City Council may grant variances from this section if it determines that such provisions were not intended to apply to a particular subdivision because of its size, shape, nature or extent of the improvements.
(7) Evidence satisfactory to the County Tax Collector showing that all taxes and past due installments of special assessments on the property to be subdivided have been paid shall be submitted to the Community Development Department.
(8) All necessary signatures and seals shall be obtained on all three mylar copies of the final plat.
(B) After the final plat has been recorded, an original plat, stamped by the Lake County Recorder’s Office, shall be returned to the city and shall be kept on file by said City Surveyor and Engineer for the use and benefit of the city.
(Prior Code, § 38-20) (Ord. 2010-48, passed 11-1-2010; Ord. 2016-61, passed 11-7-2016)