In order to protect the health, safety, and general welfare of the people, the Village Planning Commission may reject any proposed subdivision located in an area subject to periodic flooding as determined and illustrated in studies or publications by the U.S. Department of Housing and Urban Development, the Ohio Department of Natural Resources or other recognized documents or authorities. If the subdivision is located in an area having poor drainage or other adverse physical characteristics, the Commission may approve the subdivision provided the subdivider agrees to perform such improvements as will render the area safe for the intended use. In lieu of the improvements, the subdivider shall furnish a bond or other surety covering the cost of the required improvements.