(A) The developer shall be responsible for the provision of all required improvements to the subdivision. The final plat should not be submitted until all of the required improvements within the plat have been completed according to plans and specifications as set forth herein or until satisfactory arrangements have been made to complete them.
(B) This may be accomplished by either the full installation of all required improvements by the developer at the time that the final plat is forwarded to the City Commission with a recommendation of approval by the Planning Commission or by the provision of a financial guarantee of performance in the following manner.
(1) Performance guarantee.
(a) Any requests made of the City Commission to accept a performance guarantee deposit in lieu of completing all required improvements prior to having the City Commission approve the final plat shall be confirmed in writing and shall be accompanied by an estimate of costs of the remaining required improvements. This estimate shall be furnished by the proprietor’s engineer. It shall be complete in all respects, including estimated quantities and unit prices, and bear the engineer’s seal of registration. If approved by the City Commission, this estimate will provide the basis for the amount of performance deposit and written agreement. Generally, the amount of performance guarantee deposit required will be equal to 100% of the proprietor’s engineer’s estimate, following review by the City Engineer’s estimate and agreement, plus 25% of such estimate for contingencies. The agreement may further stipulate that the deposit shall be rebated to the proprietor, or an appropriate reduction in the security, in the amounts equal to the cost of completed units of work stipulated in the agreement prepared pursuant to this section and satisfactory accomplishment of the construction milestones noted therein. The performance guarantee shall either be a cash deposit or a certified check or an irrevocable letter of credit deposited by the subdivider with the City Treasurer or a responsible escrow agent or trust company, subject to the approval of the City Commission and the City Attorney.
(b) Further, the agreement will be so written that any part of the performance deposit, as required, may be used to reimburse the city for costs incurred in connection with the examination and inspection of the required improvements.
(c) In the event the developer shall in any case fail to complete such work within such period, as required by the conditions of the guarantee, the city shall have such work completed. In order to reimburse itself for the cost expense thereof, the City Commission may appropriate from the deposit which the subdivider deposits in lieu of the required improvements.
(2) Maintenance bond. Prior to acceptance by the city of required improvements, a one year maintenance bond in an amount set by the City Commission shall be posted by the subdivider.
(3) Inspections.
(a) City staff or their designees shall provide construction inspection of all required improvements on a continuous basis as outlined in the city’s engineering and construction standards. In no case shall the same engineer provide services to both the city and the subdivider.
(b) It shall be the responsibility of the improvements contractors to notify the office of the City Manager at least days in advance for the following periodic inspections:
1. Storm and sanitary sewers, water lines, mains, laterals, and catch basins before the trenches are backfilled;
2. Forms set for curb and cutter sub-base has been put in place and before the concrete is poured;
3. Forms set for sidewalks before any concrete is poured;
4. All subgrade that has been shaped and rolled, before compaction test is made;
5. Forms for pavement before any concrete is poured;
6. All base courses.
(c) No work covered by the bond shall be accepted or bonds released until these inspections have been made and work found satisfactory.
(d) The agreement to install required public improvements shall also provide for the checking of improvement plans and continuous inspections of all improvements by the city and for costs of said services which shall be borne by the subdivider.
(Ord. 509, passed 4-22-2002)