(A) Intent.
(1) In order to ensure that the required county roads and, if specified, other public facilities including drainage and water and sanitary sewer facilities are constructed in accordance with the county road standards, acceptable drainage facility standards and the standards of the agency providing public and water and sanitary sewer service and to ensure that the cost of the required public improvements are borne by the subdivider and not the public, the subdivider will be required to enter into a subdivision improvement agreement with the county.
(2) The agreement shall be found acceptable to the county and signed by the applicant prior to the approval of the final plat by the Board of County Commissioners.
(3) No final plat shall be approved by the Board of County Commissioners until an approved subdivision improvement agreement has been executed.
(B) Form and content.
(1) The subdivision improvement agreement shall be structured as proscribed by the Board of County Commissioners.
(2) The subdivision improvement agreement shall, at a minimum, describe the public improvements to be provided by the subdivider and include unit and total costs, the form of collateral to be provided for the public improvements and the basis for forfeiture of the collateral and assumption of responsibility by the county.
(C) Collateral required to guarantee improvements.
(1) The Board of County Commissioners shall require that sufficient collateral be provided by the subdivider to cover the cost of the public improvements required by the subdivision improvement agreement and insure the completion of such improvements within the time period specified. The amount of collateral shall be 125% of the estimated cost of the county roads as prepared by the county’s Road Department. If requested by the agency responsible for the provision of public water and/or sanitary sewer service, the Board of County Commissioners shall also require collateral for water and sanitary sewer improvements. Collateral may also be required for drainage facilities and other improvements. The collateral shall be in the form of an escrow deposit, performance bond, irrevocable letter of credit, or in special circumstances, a first lien and restriction on sale of the property to be subdivided. The first lien and restriction on sale of the property shall only be used when the appraised market value of the property is equal to, or greater than, the estimated cost of the public improvements. The Board of County Commissioners may accept one, or a combination, of the types of collateral listed above.
(2) As improvements are completed, the subdivider may apply to the Board of County Commissioners for release of all or part of the collateral. Upon certification by the County Road Department that the county road improvements have been completed and are in conformance with county standards, the Board of County Commissioners shall authorize the release of part or all of the collateral; except that, the Board may retain 10% of the collateral for a specified period of time in order to ensure that the improvement s have been properly constructed.
(3) In the event that the water and sewer facilities have been included in the subdivision improvement agreement and collateralized, the Board of County Commissioners shall authorize the release of the water and sewer collateral upon notification by the providing entity that the improvements have been completed.
(Ord. passed 4- -2016)