(A) (1) In approving a permit for a PUD, the Village Board may, in addition to other matters, require that all, or any part of, the improvements and other elements of the PUD be constructed and completed prior to the issuance of an occupancy permit.
(2) In the event that these buildings, improvements, or other elements are partially completed to a point where occupancy will not impair the health, safety, and general welfare of all parties concerned, then the Building Inspector may, in accordance with the provisions of this subchapter relating to authorization of a special use, grant an occupancy permit on such reasonable conditions relating to completion as the Building Inspector shall establish. The Building Inspector may, in his or her discretion, refer any such decision concerning the conditional occupancy permit to the Planning Commission.
(B) To ensure compliance with the Zoning Ordinance and any conditions imposed hereunder, the Village Board may, in granting approval of a PUD, require a performance guarantee, to consist of a cash deposit, certified check, irrevocable bank letter of credit, or surety bond acceptable to the village covering the estimated cost of improvements associated with the PUD, to be deposited with the Village Clerk to ensure faithful completion of the improvements.
(1) This performance guarantee shall be deposited at the time of the issuance of the permit authorizing the PUD. If the performance guarantee is a cash deposit, it shall be rebated periodically by the Planning Commission on application by the depositor in reasonable proportion to the ratio of the work completed on the required improvements.
(2) For the purposes of this section, the word IMPROVEMENTS shall mean those features and actions associated with the PUD which are considered necessary by the Village Board to protect natural resources, and/or the health, safety, and welfare of the residents of the village and future users or inhabitants of the proposed PUD and the area surrounding the PUD, including roadways, lighting, utilities, sidewalks, screening, and drainage. Improvements do not include the entire PUD.
(Ord. passed 3-15-2016)