Upon submitting a site plan for review and approval by the city, the applicant guarantees that all improvements set forth on the site plan shall be completed within a reasonable time as required by the city. Failure to complete any improvements set forth in an approved site plan within any required time period shall be a violation of this chapter. Unless otherwise provided on the site plan, all site plan improvements shall be installed and all other site plan requirements met prior to issuance of any temporary or final certificate of occupancy, unless compliance is otherwise required earlier. In lieu of the actual construction of all physical improvements prior to authorizing an occupancy permit, the city may accept cash, cashier’s check, letter of credit or other like security approved by the city, in the amount that will guarantee the installation of the required improvements within a period of time to be specified and approved by the city. Such surety shall be properly executed prior to any occupancy and shall be released in segments upon written approval of the city. Written authorization to enter the property or fulfill the obligation of said surety shall be given to the city by the owner as a condition of any certificate of occupancy permit and of any improvement guarantee. In determining the amount of said surety, a bonafide estimate or contract provided by the applicant for improvements shall be submitted to the city for approval.
(Ord. 3463, passed 7-17-2006)