(A) Agreement requirements. Where the required improvements are not completed before a final map is approved or where the installation of improvements has been mutually agreed upon or required to be installed by a time specific as a condition precedent to the approval of a parcel map, the subdivider shall enter into an agreement with the City Council prior to the approval of the final map or parcel map to either complete the work or initiate and consummate proceedings under an appropriate special assessment act for the financing and improvement thereof. Such agreement shall provide for the following:
1. Time limit for completion of required improvements;
2. Procedures for making changes or alterations that become necessary during the performance of the work;
3. A requirement for maintenance for a period of one year after the completion and acceptance thereof against any defective work or labor done or defective materials furnished for those portions of the work which contain earth excavations or embankments in excess of eight feet; and
4. A requirement for maintenance for a period of one year after the completion and acceptance thereof against any defective work or labor done, or defective materials furnished in the performance of the agreement with the Council or the performance of the act.
(B) Renewal. At the request of the subdivider, the City Council may renew this agreement at the expiration of this time. Such agreements shall provide for the release of the required improvement security when the conditions of the agreement are completed.
(C) Security. To assure the city that this work will be completed, improvement security shall be provided subject to § 6-12-5 of this title.
(D) Assessment district method. Where a special assessment district is formed for the purpose of financing and constructing the designated improvements, the original improvement security may be reduced in an amount not to exceed 90% of the contract amount thereof at such time as the contract for the work is executed.
(Ord. 295, passed 2-4-1986)