(A) Completion of improvements. Before the plat is signed by the Chairperson of the Planning Commission, all applicants shall be required to complete, in accordance with the Planning Commission’s decision and to the satisfaction of the City Engineer, all the street, sanitary, and other improvements including lot improvements on the individual lots of the subdivision as required in these regulations, specified in the final subdivision plat, and as approved by the Planning Commission, and to dedicate the same to the local government, free and clear of all liens, encumbrances on the property, and public improvements thus dedicated.
(B) Surety bond.
(1) No plat of any subdivision shall be approved unless the improvements required by this chapter have been installed prior to such approval, or unless the developer shall have posted a surety bond or irrevocable letter of credit assuring completion of all required improvements. Such improvements may include, but are not limited to, soil preservation, final grading according to the comprehensive subdivision drainage plan, lot drainage, erosion control, forest thinning, removal of debris and waste, fencing and screening, curb, gutter and street paving, and all other lot improvements required by the Planning Commission and Common Council.
(2) Such surety bond shall comply with all statutory requirements and shall be satisfactory to the City Attorney as to form, sufficiency, and manner of execution as set forth in these regulations. The period within which required improvements must be completed shall be specified by the final plat and shall be incorporated in the bond, and shall not in any event exceed 18 months from the date of final approval.
(3) Surety for all required improvements not completed shall be provided at the date of final plat submittal. An itemized list of uncompleted improvements and engineer’s estimate of associated costs, plus 20%, shall be submitted for review and approval.
(4) Such bond shall be approved by the Common Council as to amount and surety, and conditions satisfactory to the Common Council. The Planning Commission may, upon proof of difficulty, recommend to the Common Council extension of the completion date set forth in such bond for a maximum period of one additional year.
(Prior Code, § 151.070)