Chapter 16.30 IMPROVEMENTS

Chapter 16.30
IMPROVEMENTS

Sections:

16.30.010 Agreement.

Before city council approval is certified on the final plat, the subdivider shall either install required improvements and repair any existing streets and other public facilities damaged in the development of the subdivision or execute and file with the city an agreement between the subdivider and the city specifying the period within which required improvements and repairs shall be completed. The agreement shall provide that if the work is not completed within the period specified (including any extensions of time authorized by the council), the city may complete the work and recover the full cost and expense thereof from the subdivider. The agreement may provide for the construction of the improvements in units and for an extension of time under specified conditions. In addition, the agreement must contain a provision whereby the subdivider will be responsible for the successful operation of all repairs to the improvements for a one-year period following their installation. (Ord. 1110 § 2, 2002).

16.30.020 Bond.

(1) The subdivider shall file, with the agreement to assure full and faithful performance thereof, one of the following:

(a) A surety bond executed by a surety company authorized to transact business in the state of Washington in a form approved by the city attorney;

(b) A personal bond approved by the city attorney cosigned by at least one additional person, together with evidence of financial responsibility and resources of those signing the bond sufficient to provide reasonable assurance of ability to proceed in accordance with the agreement;

(d) Letter of credit (or set-aside) approved by the city attorney from a financial institution stating that the money is held for the purpose of development of the stated project.

(2) Such assurance of full and faithful performance shall be for a sum determined by the public works director as sufficient to cover the cost of the improvements and repairs, including related engineering and incidental expenses.

(3) If the subdivider fails to carry out provisions of the agreement and the city has unreimbursed costs or expenses resulting from such failure, the city shall call on the bond or cash deposit for reimbursement. If the amount of the bond or cash deposit exceeds the cost and expense incurred by the city, the city shall release the remainder. If the amount of the bond or cash deposit is less than the cost and expense incurred by the city, the subdivider shall be liable to the city for the difference. (Ord. 1110 § 2, 2002).