A. In the event that the subdivider defaults, fails, or neglects to satisfactorily install the required improvements within the time frame established by the Director for performance:
1. The city may declare the bond, or other assurance forfeited, and the city may make or cause the required improvements to be made, using the financial assurance to defray the expense thereof; or
2. The city may abandon the subdivision plat by recordation of a resolution of abandonment. Prior to abandoning the subdivision plat, the city shall determine whether or not the subdivision is the subject of a bankruptcy, if any lots have been sold or if any are under contract to be sold, and if any change in ownership has occurred.
B. The Director shall notify the State Real Estate Commissioner in writing of the default and/or the City's intent to abandon the subdivision prior to recordation of the resolution of abandonment.
(Ord. 24-1324, passed 2-27-2024; Ord. 08-913, passed 3-11-2008)