If all required improvements have not been completed by the end of the one-year period (or two-year period in the case of an extension), the Code Enforcement Officer with the assistance of the City Attorney may;
(A) Require the surety to perform on the bond and to pay to the city an amount equal to the cost of completing the required improvements as estimated by the City Engineer or the amount of the bond not theretofore released, whichever is less;
(B) Order the City Treasurer to retain all escrowed funds needed to complete the required improvements and to return the balance, if any, of the funds to the subdivider/developer; or
(C) Require the subdivider/developer to submit a new escrow deposit in an amount sufficient to cover any increase in the cost of constructing the required improvements.
(Ord. 2009-21, § 18.5-4-29, passed 10-5-2009; Ord. 2017-03, passed 3-6-2017)