A. Financing: Installation of the improvements required in a development or development phase shall be guaranteed by:
1. Installation of all required and represented improvements with an approved improvement agreement prior to the filing of a final plat or final site plan; or
2. Provision of security for installation of improvements.
B. Warranty: All improvements shall be warranted by the applicant for two (2) full years' normal operation. The county shall either retain ten percent (10%) of the bond or escrow total, or require a bond or escrow equal to ten percent (10%) of the required total improvement costs to be maintained for twenty four (24) months from the date of completion and acceptance of the improvements by the county as warranty should the improvements be defective during the twenty four (24) month period.
C. Maintenance Of Private Improvements: Improvements affecting/serving more than one lot and which shall be held privately shall be assigned to an appropriate homeowners' association in a dedication, contract, covenant, or other agreement.
D. Revocation: Failure to properly install, warranty or maintain all required improvements shall result in the suspension or revocation of a development approval or certificate of occupancy.
E. Improvement Agreement And Guarantee Of Completion Of Public Improvements:
1. Improvement Agreement: The developer shall enter into an improvement agreement incorporating approved development plans. The developer shall complete all required improvements no later than twenty four (24) months following the date upon which the final plat is approved. The improvement agreement shall be approved by the county manager. The county manager may also require the property owner to complete and dedicate some required improvements prior to any final approval and enter into an improvement agreement for completion of the remainder of the required improvements during such period. The improvement agreement shall contain such other terms and conditions as are agreed to by the property owner and the county.
2. Covenants To Run With The Land: The improvement agreement shall stipulate that the covenants contained therein shall run with the land and bind all successors, heirs and assigns. The improvement agreement shall be recorded in the office of the county recorder and on file in the community development department. All existing lienholders shall be required to subordinate their liens to the covenants contained in the improvement agreement.
3. Security: Whenever the county permits a developer to enter into an improvement agreement after any final approval, it shall require the developer to provide sufficient security to ensure completion of the required public improvements. In addition to all other security, for completion of those public improvements where the county participates in the cost, the owner shall provide a performance bond from the contractor, with the county as a co-obligee. The issuer of any surety bond and letter of credit shall be subject to the approval of the county attorney. The security shall be in the form of either:
a. A letter of credit, in the amount of one hundred twenty percent (120%) of the estimated cost of improvements, drawn upon a state or national bank. Said letter of credit shall be irrevocable, of a term sufficient to cover the completion, plus sixty (60) days, including warranty periods, and require only that the county present the issuer with a signed draft and a certificate signed by an authorized representative of the county certifying to the county's right to draw funds under the letter of credit; or
b. The establishment of an escrow account or a bond for one hundred twenty percent (120%) of the estimated cost of the improvements, with a guarantee that all improvements shall be installed within two (2) years or the account or bond will be called by the county to complete the improvements. Acceptable escrow agents shall be the county treasurer's office, or banks or savings institutions which are federally insured. The two (2) year deadline may be extended by the county upon a showing of sufficient cause by the developer. But, no additional phase of the development shall be permitted during such an extension.
4. Release Of Security: As portions of the public improvements are completed in accordance with the improvement agreement, county regulations, and the approved development plans, the developer may make application to the county engineer to reduce the amount of the original letter of credit or cash escrow. If the county manager is satisfied that such portion of the improvements has been completed in accordance with county standards, he/she may cause the amount of the letter of credit or cash escrow to be reduced by an amount deemed appropriate, so that the remaining amount of the letter of credit or cash escrow adequately insures the completion of the remaining public improvements.
5. Governmental Units: Governmental units to which these contract and security provisions apply may file, in lieu of the security, a certified resolution or ordinance from offices or agencies authorized to act in their behalf, agreeing to comply with the provisions of this section.
F. Failure To Complete Improvements: If improvements are not completed within the period specified by the county for which no improvement agreement has been executed and no security has been posted, the final plat or site plan approval shall be deemed to have lapsed and shall be null and void, and further proceedings on the plat or site plan shall terminate. In those cases where an improvement agreement has been executed and security has been posted and required public improvements have not been installed within the terms of the agreement, the county may:
1. Declare Default: Declare the agreement to be in default and require that all the public improvements be installed regardless of the extent of completion of the development at the time the agreement is declared to be in default;
2. Obtain Funds: Obtain funds under the security and complete the public improvements itself or through a third party;
3. Assign Rights: Assign its right to receive funds under the security to any third party, including a subsequent owner of the subdivision for which public improvements were not constructed, in whole or in part, in exchange for that subsequent owner's promise to complete the public improvements on the tract; or
4. Other Rights Available: Exercise any other rights available under the law.
G. Temporary Improvements: The developer shall build and pay for all costs of temporary improvements required and shall maintain those temporary improvements for the period specified in the final approval. Prior to construction of any temporary facility or improvement, the developer shall file with the county a separate improvement agreement and escrow, or, when authorized, a letter of credit in an amount equal to one hundred twenty percent (120%) of the estimated cost of installation and removal of such temporary facilities. The agreement and escrow or letter of credit shall ensure that the temporary facilities will be properly constructed, maintained and removed.
H. Acceptance Of Dedication Offers: Acceptance of formal offers of dedication of roads, public areas, easements and other facilities shall be by application to the CDD or designated planning staff member or county engineer. The approval by the county manager of a plat or site plan, whether preliminary or final, shall not by itself be deemed to constitute or imply the acceptance by the county of any road, easement or facility shown on the plat or site plan.
I. Inspection Of Public Improvements:
1. General Procedure: The developer shall be responsible for providing all construction surveying, materials testing and construction administration. The construction inspection provided by the developer shall be supervised by the county engineer. Construction shall be in accordance with the approved plans and standard specifications and details adopted by the county. Any change in design shall first be approved by the county engineer. If the county engineer finds upon inspection that any of the required improvements have not been constructed in accordance with the county's construction standards and specifications, the developer shall be responsible for completing and/or correcting the improvements. (Ord. 708, 12-10-2008; amd. Ord. 737, 4-14-2010)
2. Certificate Of Satisfactory Completion: The county will not accept dedication of a required public improvement until the developer's engineer or surveyor has certified to the engineer, through submission of a detailed as built survey plat of the property, the location, dimensions, materials and other information required by the county manager. The as built survey shall also include a complete set of drawings of the paving, drainage, water, sanitary sewer or other public improvements, showing that the layout of the line and grade of all public improvements is in accordance with construction plans for the plat or site plan. Each as built sheet shall show all changes made in the plans during construction and on each sheet there will be an as built stamp bearing the signature of the county engineer and date.
3. Acceptance Of Improvements: The developer's engineer shall provide to the county two (2) reproducible drawings and a CAD drawing file compatible to the county's CAD system, of each of the utility plan sheets containing the as built information. When such requirements have been met, and verified by the county engineer and the CDD or designated planning staff member, the county shall thereafter accept the public improvements for dedication in accordance with the established procedure as set forth in this section. "Acceptance of the development" shall mean that the developer has transferred all rights to that public improvement to the county for use and maintenance. The county manager may, at his/her discretion, accept dedication of a portion of the required public improvements, provided adequate surety has been given for the completion of all of the required public improvements. (Ord. 737, 4-14-2010)