11-4-1: LETTERS OF CREDIT OR CASH DEPOSITS; MAINTENANCE GUARANTEE:
   A.   Agreements And Guarantee Of Improvements: The requirements of this section shall be complied with prior to the approval and recording of a final plat of subdivision.
      1.   Action By Subdivider: Prior to the filing of an application for a final plat, the subdivider shall submit the following to the village clerk:
         a.   Statement Of Agreement: A statement of agreement that:
            (1)   The land improvements required by this title shall be completed by the owner or subdivider in accordance with the plans and specifications approved by the village engineer.
            (2)   Four (4) sets plus one reproducible set on mylar of as built plans shall be submitted by the subdivider.
            (3)   All improvements and the as built plans of said improvement, shall be completed by the owner or subdivider within two (2) years or less following approval of the final plat by the mayor and board of trustees.
            (4)   No home fronting on a newly constructed street in any subdivision shall be occupied until the binder course has been applied to the roadway. The final wearing surface shall not be applied until the elapse of one winter season. The roadways remain the responsibility (including maintenance and snowplowing) of the developer until accepted by the village board.
            (5)   The subdivider shall pay to the village a fine of one hundred dollars ($100.00) per day for every day beyond the two (2) year period required for installation of public improvements that the public improvements have not been completed and received the approval of the village, unless an extension of time is granted by the village, upon written application of the subdivider and the recommendation of the village engineer.
            (6)   The subdivider, individually and on behalf of his heirs, assigns, and successors in interest, hereby agrees to pay when due all fees, deposits, and payments required by this code, including, but not limited to, all fees, deposits, and payments required by sections 1-8-1 through 1-8-8 of this code.
      2.   Guarantee:
         a.   General: In order to provide for the orderly growth of the village and to further provide for the orderly development of land and the installation of all required improvements in newly developed areas, no plat of a proposed subdivision shall be given final approval until the requirements of this section have been satisfied.
         b.   Approval: Before approval of a final plat, the village engineer must certify that all required improvements have been installed in accordance with the approved plans and specifications, the provisions of this title, and all other applicable ordinances of the village; provided, however, that a final plat may be approved upon the depositing of a letter of credit acceptable to the village as provided hereunder:
            (1)   The letter of credit must be issued by an institution which the village finds to be financially sound and reputable.
            (2)   The letter of credit must conform with the format approved by the village attorney from time to time.
            (3)   The amount of the letter of credit shall be equal to one hundred twenty five percent (125%) of the estimated cost of construction and maintenance of the required improvements as determined by the village engineer.
            (4)   The letter of credit shall have an expiration date not less than twenty four (24) months subsequent to final plat approval by the village board.
            (5)   Letters of credit shall be permitted by phase of development and shall be subject to partial reductions in the face amount as distinct phases of each improvement are completed, and shall be released upon satisfactory completion of the improvements, provided, however, that ten percent (10%) of the improvement cost shall be retained in the letter of credit for a twenty four (24) month guarantee period after approval by the village engineer of the installation and completion of all improvements as described in this section. This ten percent (10%) will then be released at the end of the twenty four (24) month guarantee period after final inspection and approval by the village engineer, or shall be used by the village for the maintenance and repair of the improvements if the subdivider fails to do so.
         c.   Completion: All public improvements within each phase of the subdivision shall be completed within two (2) years of final plat approval for that phase.
         d.   Other Guarantees: In lieu of the letter of credit, the subdivider, at his election, may deposit cash or a certified check with the village clerk in the amount of one hundred twenty five percent (125%) of the estimated cost of construction and maintenance of the required improvements as determined by the village engineer.
         e.   Completion Prior To Approval: In the event that the subdivider elects to complete the required improvements prior to final plat approval, then in that event, the subdivider shall deposit a letter of credit to guarantee restoration of the site in the event that the improvements are not completed within two (2) years of the commencement of construction in an amount equal to one hundred twenty five percent (125%) of the estimated cost to restore the site as determined by the village engineer. This letter of credit shall conform with the requirements set forth in this section.
         f.   Improvements Not Completed: If the improvements are not completed within the required time, the village may use the letter of credit funds or cash bond or any portion thereof to complete construction of the improvements and/or for the maintenance and repair thereof.
      3.   Action By Village Clerk: The village clerk shall not certify the approval of the mayor and board of trustees on the final plat until the requirements of this section have been completed.
      4.   Guarantee Of Completed Improvements: Upon completion of the improvements, the subdivider shall notify the village engineer in writing and request inspection of the completed improvements. The subdivider shall submit, with the request for inspection, as built plans covering the improvements to be accepted. Such as built plans shall be submitted to the village in both paper and electronic form. The electronic form of such as built plans shall be portable document format (PDF) or in a format that is technologically current and readable by village personnel at the time of submission as well as in CADD format coordinated with the village to be incorporated in the village's GPS/GIS system. After the improvements have been inspected by the village and found to be complete, but before acceptance by the village board, the subdivider shall furnish a written guarantee, guaranteeing the improvements against faulty workmanship and/or materials for a period of two (2) years after acceptance.
   B.   Construction Of Required Improvements:
      1.   Preconstruction Meeting: Before any construction activity, including, but not limited to, site grading, removal of vegetation, or disturbing the site in any manner, occurs on a site that is subdivided or is to be subdivided, the subdivider shall request a preconstruction meeting with the necessary village and county personnel, which shall include the village engineer, planner, director of public works, and a representative from the stormwater management commission. The preconstruction meeting is intended to provide the subdivider with the necessary information and direction to ensure that the subdivision construction and improvements are installed in accordance with all applicable laws, regulations, and ordinances, including, but not limited to, adequate protection of natural resources. No such construction shall occur or be permitted on the site until the preconstruction meeting is held and the final plat is approved and recorded. All such construction shall be accomplished in accordance with the directions furnished at the preconstruction meeting.
      2.   Installation Required: After approval of the preliminary plat by the village board, and after approval of the plans and specifications for required improvements by the village engineer and board of trustees, the subdivider shall install street and utility improvements and other improvements indicated on the plans in accordance with specifications hereinafter provided. If such improvements are not installed as required at the time the final plat is submitted for approval, the subdivider shall, before the recording of his plat, enter into a contract with the village agreeing to install the required improvements. Such contract shall be in such form as required by this section.
In any event, all public improvements shall be fully installed and receive approval from the village within two (2) years of the date of final plat approval.
Any subdivider who fails to install, within the two (2) year period, all public improvements and receive approval from the village, shall be subject to a one hundred dollar ($100.00) per day fine until said improvements are completed and have received the approval of the village engineer and village board.
The village board may, at the written request of a subdivider, if recommended by the village engineer, extend the period for completion of public improvements beyond the twenty four (24) month period; provided, that the subdivider post suitable additional security to ensure the balance of the improvements in a form satisfactory to the village board.
      3.   Deeding Of Improvements: All underground public improvements up to the property line shall be deeded over to the village and become the property of the village after approval by the village engineer and when accepted by resolution of the board. All labor and material for installing underground public improvements shall be furnished by the subdivider. All testing required for acceptance shall be done by the subdivider under the supervision of the village engineer.
   C.   Inspection Of Improvements:
      1.   Required: All required land improvements to be installed under the provisions of these subdivision regulations shall be inspected by the village at the subdivider's expense.
      2.   Notification: Before starting the construction of any improvements, the subdivider shall ascertain from the village building commissioner what inspections are required and the amount of notification desired in each case, and shall comply with all their rules, regulations, and instructions pertaining to such required inspections.
      3.   Reports: Any inspection which requires that the health officer be present shall be made by that official or his agent and reported in written form; one copy shall be furnished to the engineer or other agent of the subdivider and one copy to the village.
      4.   Subdivider's Responsibility: Regardless of contracts, agreements, or inspections performed, final responsibility for the installation of all improvements, in accordance with the applicable standards, shall rest with the subdivider.
      5.   Approval And Acceptance:
         a.   When water, sewer, street, and drainage improvements and all appurtenances thereto, based on approved plans, have been constructed or installed and passed all inspections, the corporate authorities shall provide the developer with a letter of approval, completion, and acceptance by the village of Lake Villa.
         b.   When individual sewage disposal systems, based on approved plans, have been constructed or installed and have passed all inspections, the health officer shall provide the developer with a letter of approval and completion.
         c.   When any required sewer or water improvement is not intended for public ownership, the appropriate inspecting agency shall provide the developer and the village with a letter of approval and completion. Such letter shall not constitute acceptance by the public but shall permit the owner to operate and maintain the facility.
      6.   Fees: The subdivider shall pay to the village such reasonable fees as may be prescribed by the inspecting agency or the corporate authorities to defray the cost of inspections and whatever engineering services may be required relative to installation of the improvements.
For the normal and customary subdivision improvements, such as sewer, water, curb and gutters, drainage structures and roads, the subdivider shall pay for the village's engineering costs incurred on a flat fee basis, based on the village engineer's estimate of the cost of such improvements, according to the following:
         a.   For improvements, which are estimated to cost five hundred thousand dollars ($500,000.00) or less, the flat fee shall be 3.5 percent of the estimated cost.
         b.   For improvements, which are estimated to cost between five hundred thousand one dollars ($500,001.00) and one million dollars ($1,000,000.00), the flat fee shall be seventeen thousand five hundred dollars ($17,500.00) plus 3.0 percent of the estimated cost exceeding five hundred thousand dollars ($500,000.00).
         c.   For improvements, which are estimated to cost one million one dollars ($1,000,001.00) or greater, the flat fee shall be thirty two thousand five hundred dollars ($32,500.00) plus 2.5 percent of the estimated cost exceeding one million dollars ($1,000,000.00).
   D.   More Stringent Provision Applies: In the event of a conflict between the definitions and/or standards contained in title 5 of this code with the definitions and/or provisions contained in this title, the more stringent definition and/or standard shall govern and apply. (Ord. 2015-03-02, 3-11-2015)