(A) Improvement guarantees shall be provided to ensure the proper installation and maintenance of required street, utility and other improvements as specified in this article. The nature and duration of the guarantee shall be structured to achieve this goal without adding unnecessary costs to the developer.
(B) No final plat of any subdivision shall be approved until:
(1) The improvements listed in this article, inclusive, hereof have been completed; or
(2) The subdivider has filed with the Village Administrator a performance guarantee in the form of a bond, certified check or irrevocable letter of credit equal to estimated cost of construction of the improvements, as determined by a professional engineer licensed in the state, plus 10% of the required improvements; guaranteeing to the village the completion of such improvements in a satisfactory manner within such time, not to exceed two years, as may be fixed by the Planning Commission. The form of bond, check or letter of credit shall be approved by the Village Solicitor or other authorized legal representative, and shall be made payable to and enforceable by the village.
(C) Upon application of the subdivider, the Planning Commission may waive compliance with division (B) above upon the following conditions:
(1) After the preliminary plat drawing of the proposed subdivision has been approved by the Village Planning Commission, the subdivider may improve a portion of the proposed subdivision and submit a final plat for that improved portion to the Village Planning Commission for approval. If the Planning Commission deems it necessary to defer the construction of any required improvement, the subdivider shall pay his or her share of the costs of the deferred future improvements, as determined by the village, to the village prior to the approval of the final plat by the village. The subdivider shall provide a surety bond, certified check or irrevocable letter of credit equal to the estimated cost of the construction of the improvements as determined by a professional engineer licensed in the state plus 10% of the remaining required improvements, guaranteeing to the village the completion of such improvements in a satisfactory manner within such time, not to exceed two years, as may be fixed by the Planning Commission. The form of bond, check or letter of credit shall be approved by the Village Solicitor or other authorized legal representative, and shall be made payable to and enforceable by the village;
(2) No lot or land abutting the unopened and unimproved street shall be sold and/or conveyed until said lot or land are in conformity with divisions (B)(1) or (B)(2) above. However, with the consent of the Planning Commission, all of such abutting lots or land may be sold and/or conveyed as one unit; and
(3) No building or zoning permit shall be issued or buildings constructed on lots or land abutting an unopened and unimproved street until the conditions set forth in divisions (B)(1) or (B)(2) above have been complied with.
(D) In the event the developer fails to complete the installation of all improvements according to the terms and conditions of divisions (B)(2) and (C)(1) above, the village, upon proceed to have such work completed and appropriate such portion of bond, certified check or irrevocable letter of credit posted for the faithful performance of said work.
(E) Inspections during installation of improvements shall be made by the village to ensure conformity with the approved technical design and construction plans and other specifications. The subdivider shall be liable for costs incurred for necessary inspections during construction. An amount covering the estimated costs of such inspections shall be deposited with the Village Administrator prior to commencing the work. The subdivider shall notify the proper administrative officials 24 hours prior to commencing work.
(F) Upon completion of all required improvements, the developer shall notify the Village Administrator, in writing, of the completion of improvements and request a final inspection. The village, its consulting engineer or other authorized representatives shall inspect all improvements of which such notice has been given and shall file a detailed report, in writing, with the Village Administrator listing items of work necessary to accomplish satisfactory completion of the improvements; and/or recommending acceptance of the improvements. The Village Administrator shall notify the developer in writing, by certified mail, of the contents of the inspection report no later than 45 days after receipt of the notice of completion from the developer.
(G) The Village Council shall either approve or reject the improvements based on the contents of the inspection report and the recommendation of the Village Administrator; and shall notify the developer in writing, by certified mail, of the decision of the Village Council with a statement for the reason of any rejection. No improvements shall be approved by the Village Council until a maintenance guarantee in the form of a bond, certified check or irrevocable letter of credit is filed with the village in an amount equal to 25% of the total cost of the improvements in the subdivision guaranteeing the workmanship and materials for a period of two years after acceptance of the improvements by village. All streets, sewers, waterlines or other improvements dedicated for public use shall be accepted by the village for public use and maintenance only upon passage of an ordinance authorized for such purpose.
(H) At the end of the two-year maintenance period, the village, along with its consulting engineer, or other authorized representatives shall inspect all improvements to ensure such improvements remain in an acceptable condition. After the inspection, the village either:
(1) Issue a letter to the developer, the developer’s bank or surety, and/or the developer’s contractor releasing the maintenance guarantee; or
(2) Issue a letter to the developer and/or the developer’s contractor listing items of work necessary to be completed or corrected before the release of the maintenance guarantee will be made.
(Ord. 2023-03, passed 2-27-2023)