1140.07 IMPLEMENTATION OF THE PD ORDINANCE.
   (a)   After adoption of a PD Ordinance by the City Commission, the owners of lands within the PD district shall record with the Clark County, Ohio County Recorder an affidavit notifying the public that the lands described in the PD Ordinance have been made subject to the PD Ordinance. The affidavit shall be in a form approved by the Law Director.
 
   (b)   After adoption of a PD Ordinance by the City Commission, the owners of lands within the PD district shall also record with the Clark County, Ohio County Recorder such other deeds, easements declarations of land covenants and such other conveyances of interests in real property as the PD Ordinance requires.
 
   (c)    After adoption of a PD Ordinance by the City Commission, the applicant shall forthwith deliver to the City proof acceptable to the City Manager and Law Director that such financial assurances, security and other mechanisms as are required under the PD Ordinance are in place, properly funded and enforceable.
 
   (d)   No building permit shall be issued for any construction within a PD district until after the applicant has achieved full and complete compliance with the requirements of subdivisions (a), (b) and (c) of this Section, as specified in the PD Ordinance.
 
   (e)   In the event that a Planned Development or a phase of a Planned Development is not under substantial construction within twenty four (24) months after the commencement date for the relevant portion of the Planned Development, as specified in the Development Schedule adopted in the PD Ordinance; then, upon a determination by the City Commission that the PD Ordinance should not be amended to allow an extension of time to commence substantial construction of the relevant portion of the Planned Development, the Planning Board shall proceed to consider whether such lands included in the said portion of the Planned Development should be rezoned and shall make its recommendation to the City Commission.