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The name of the subdivision shall not duplicate nor closely approximate the name of an existing subdivision within Moore County unless it is an extension of that subdivision and may be adopted only with the approval of the Village Planner, Village Manager and Village Council.
(A) In any subdivision, actions will be taken to safeguard the heritage of the Village by preserving any archaeological site or any property therein, or located on adjacent property thereto, that embodies important elements of its cultural, social, economic, political or architectural history and likewise all due consideration should be given to promoting the use and conservation of such property for the education, pleasure and enrichment of all the residents of the State of North Carolina;
(B) The name and location of all historic properties, located within the proposed subdivision or within any contiguous property, shall be clearly identified on both the preliminary and final plats. If any such historic property is listed on the U.S. Department of Interior's National Register of Historic Places, or has been designated by local Ordinance as an "Historic Property" pursuant to NCGS Chapter 160A, Article 19, Part 3A, the Village Council may provide that the North Carolina Department of Cultural Resources, Division of Archives and History shall be given an opportunity to make recommendations concerning an individual subdivision plan before the plan is approved;
(C) In all subdivisions, actions shall be taken to preserve natural features such as trees, ponds, streams, rivers and lakes and areas of environmental concern.
(A) Level Required for Final Plat Approval: The final plat shall not be approved until and unless the subdivider has installed all improvements in accordance with the requirements of this Ordinance and the approved preliminary plat;
(B) Inspection: Prior to approval of the final plat or the issuance of any certificates of occupancy, the Village Engineer and Village Planner shall inspect all improvements for conformance with the requirements of this Ordinance and the approved plats. The Village Engineer and Village Planner shall have fifteen (15) business days after the applicant has requested an inspection to inspect and certify the improvements as being constructed in accordance with the requirements of this Ordinance and the approved plats, or to provide the applicant with a list specifying all defects, deficiencies, and required repairs.
(C) Building Permit: The Planning and Inspections Department shall issue no Building Permit for development within the subdivision until and unless the subdivider has installed all improvements in accordance with the requirements of this Section and the approved preliminary plat, and all such improvements are functional and the final plat has been recorded for the lot to be built upon.
(A) Performance Guarantee: In lieu of prior construction of the improvements required by this Ordinance, the sub-divider shall guarantee that such improvements will be carried out according to Village specifications at his/her expense. Additionally, the sub-divider shall submit a schedule for the completion of the remaining infrastructure improvements.
(B) Types of Guarantees: Such guarantee may be in the form of a surety bond made by a surety company licensed to do business in North Carolina or certified check drawn in favor of the Village, or cash deposited with the Village, or a letter of credit from a local bank. Such guarantees shall be in an amount of not less than one hundred twenty-five (125) percent of the cost of the construction of the required improvements as estimated by the Village Engineer.
(C) Time Limit: Improvements must be completed by the developer within five (5) years of the approval of the performance guarantee. The applicable guarantee shall be renewed at least fifteen (15) days prior to expiration or be self-renewing. Failure to renew the performance guarantee fifteen (15) days prior to the expiration shall be considered defaulting by the developer. Any renewal of the performance guarantee shall be done in the same fashion as the original performance guarantee.
(D) Default by Developer
(1) Upon default, meaning failure on the part of the developer or surety to make timely completion of the required improvements, the Village may require the developer, the surety, or the financial institution holding the escrow account to pay all or any portion of the bond or escrow account fund to the Village.
(2) Upon payment, the Village, in its discretion, may expend such portion of the funds as it deems necessary to complete all or any portion of the required improvements.
(E) Release of Guarantee: The Village Manager may release a portion of any security posted as the improvements are completed and recommended for approval by the Village Engineer. Such funds shall be released within thirty (30) days after approval of all improvements by the Village Engineer.
(F) As-built drawings required. As a condition of release of any Guarantee, as-built drawings and plans of all water system, sewer system, streets, sidewalks and storm drainage system facilities shall be prepared by the subdivider and submitted to the Village Engineer and Moore County Utilities at the time of request for Final Plat approval or release of any surety for required improvements, whichever comes later. These plans should show all easements and/or rights-of-way to demonstrate that the required improvements and facilities are properly placed. These drawings need not be placed on the final plat. Electronic copies of Final Plats, AutoCAD compatible, shall be submitted with all as-built plans if so required by this Ordinance, the Engineering Standards Manual or Moore County Utilities.
(G) Village Attorney Review. All instruments for performance guarantees shall be reviewed by the Village Attorney and a recommendation regarding their sufficiency made to the Village Manager.
(H) Note on plat. There shall be language placed on the final plat that states that all of the required improvements have not been installed for the development and that the lots being platted may not be buildable until such times as all required improvements have been made. The total amount of the performance guarantee shall also be placed on the plat.
(Ord. 21-12, passed 07-27-2021)
This Ordinance applies only where all of the following requirements are met:
(A) A subdivision of land achieved final plat approval based on the posting of financial guarantees in lieu of completing required public infrastructure; and
(B) A financial guarantee was issued by a financial institution that has failed and been closed and the FDIC, as receiver, has disaffirmed and repudiated such financial guarantee(s); and
(C) The developer has failed or refused to provide a replacement financial guarantee(s) or to complete such required public infrastructure; and
(D) The developer sold and conveyed lots to third parties prior to the date on which the Village was notified by the FDIC that the financial guarantees were disaffirmed and repudiated ('Notification Date'); and
(E) Sufficient infrastructure has been installed by the developer in such phase or phases such that acceptable access is provided and adequate utilities are installed for fire protection, potable water and sewer service. This shall be determined by the village engineer and the fire marshal.
If all of the requirements set forth above are met, then, in such developments or phases thereof, lot owners who purchased lots before the notification date wishing to build new heated square footage or additions of heated square footage may provide a substitute financial guarantee (SFG) on a per lot basis. The SFG shall be determined by Council based on the amount of the repudiated letters of credit issued for phase of development and the number of undeveloped lots in that phase.
Once the SFG is determined, the Village may issue a building permit upon receipt of the SFG. Certificates of occupancy shall not be withheld by the Village based on incomplete public infrastructure or the failure to provide or maintain a financial guarantee if a SFG was provided for such lot, although other PDO requirements will continue to apply.
Half of the SFG will be collected at or prior to issuance of a building permit and half will be collected prior to the issuance of a certificate of occupancy. Such SFG shall be maintained by the Village and shall be used by the Village to complete the infrastructure in that particular phase of the subdivision. In the event the infrastructure in that phase of the development is completed by the developer or their successor without cost to the Village, or in the event the Village completes the infrastructure and discovers that it does not need all of the SFG funds provided for, the Village shall refund a proportionate share of such SFG's not needed to the persons who provided them.
This regulation shall not obligate the Village to complete public infrastructure for which SFG's have been provided until such time as adequate funds exist to complete the public infrastructure, although the Village, in its sole discretion, may undertake such completion at any time.
The Village reserves the right to transfer these funds to a third party to ensure completion and acceptance by the Village.
(Ord. 14-35, passed 09-24-2014)