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Before final approval of any final plat located within the jurisdiction limits of this Chapter, the subdivider shall install street, utility and other public improvements as hereinafter provided. The subdivider shall enter a contract with the Village concerning such work per Article 10, and shall provide a financial guarantee. Upon written request of the subdivider, the Village Board may allow the subdivider to file a cash deposit or letter of credit as a financial guarantee to assure completion of such improvements and then record the final plat before the work is completed. Although the subdivider may have a statutory ability to choose the form of the financial guarantee, if the subdivider chooses a form other than an approved letter of credit or cash deposit, all work must be completed prior to recording the final plat. The required contract and financial guarantee shall be in a form approved by the Village Attorney, with the financial guarantee in an amount equal to 120 percent of the estimated cost of the improvements -- said estimate to be made pursuant to the procedures in Wis. Stat. s. 236.13(2) -- as a guarantee that such improvements are properly and timely completed. If the subdivider requests and is granted permission to record the final plat before the improvements are completed, the approved form of financial guarantee shall warrant that the improvements will be completed by the subdivider or the subdivider’s contractors or subcontractors not later than two years from the date of recording of the plat and as a further guarantee that all obligations to subcontractors for work on the development are satisfied. In addition:
A. Contracts and contract specifications for the construction of street and utility improvements on dedicated street rights-of-way, as well as the contractors and subcontractors providing such work shall be subject to the approval of the Village Engineer;
B. Governmental units to which these financial guarantee and contract provisions apply may file, in lieu of said contract and financial guarantee, a letter from officers authorized to act on their behalf agreeing to comply with the provisions of this section;
C. Survey monuments: Before final approval of any plat within the Village, the subdivider shall install survey monuments (hereinafter sometimes referred to as “monuments) placed in accordance with the requirements of Wis. Stat. s. 236.15 and as may be required by the Village Engineer.
(Ord. 2018-6, passed 10-8-2018)
Notes
| 1 | 1 Amended by Ordinance #2018-5, Adopted 8.6.2018 |