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300 corrective action will not change the status of a private improvement. Such a homeowners' <br /> 301 <br /> 302 <br /> 303 <br /> 304 <br /> 305 city attorney for review. <br /> 306 (7) ..a•' • ' • - -•Development contracts The council may, ::• ' - :••• •-:. • :- - Commented[SM78]:The Statute calls it a development <br /> 307 the planning commission and/or city staff, _require the subdivider to execute a subdivider's contract <br /> 308 agreementdevelopment contract prior to final plat approval. The • <br /> s•"�'.nr ivide•'s <br /> 309 agreementdevelopment contract shall set forth in the standard city form those improvements <br /> 310 required to be completed as a condition of plat approval,the party responsible for the <br /> 1311 installation and maintenance of the improvements,and the method of payment of the installation <br /> 1312 and maintenance costs. <br /> 1313 Sec.82-213.-Assurance for completion and maintenance of required public or private <br /> 314 improvement •• : : ••••• : •. :. : ' .:•. • : • •: , ; Commented[SM79]:We don't want bonds. <br /> 315 The following provisions apply to class II and class III subdivisions: <br /> 1316 (1) Completion of required public or private improvements.Before the mayor and city clerk sign a <br /> 1317 final plat,the subdivider shall complete or agree to complete at their his cost all of the required <br /> 1318 public or private improvements as required in this chapter and as specified in the resolution <br /> 1319 approving the final plat and in the ..- 6 • :• development contract,and in the case <br /> 1320 of public improvements,to dedicate them to the city,free and clear of all liens and encumbrances <br /> 1321 on the property and public improvements thus dedicated. <br /> -1322 (2) Performance Herd-Security <br /> 23 a. The city may require the developer furnish security,in the amount of 1125°4 of the cost of the -- Commented[JB80]:Used to be 150%,most cities use <br /> 324 improvements,to guarantee their completion.The city may waive the requirement that the 125%or less <br /> 325 <br /> 326 _ . . <br /> 327 .. <br /> 328 by the city engineer as sufficient to secure to the city the satisfactory construction, <br /> 329 <br /> 330 5 • ' • • ,. , . •••_• . •• ••- • ,, - _-- . Commented[5M81]:This is high. 1.25 is the average and <br /> 331 - - some communities are lowering it. <br /> 332 b. Such performance security bends shall comply with all statutory requirements and be <br /> 1333 satisfactory to the city attorney as to form and manner of execution.The period within which <br /> 1334 the required public and private improvements must be completed shall be specified by the <br /> 1335 city in the resolution approving the final subdivision plat or in the subdivider's <br /> 9336 agreementdevelopment contract.•: •. • : -- . . •• ,.•.. and shall not exceed <br /> 1337 two years from date of final plat approval. -. . ::• : :: - . •.. ,• _ _ <br /> 1338 <br /> 1339 .. _ . <br /> 1340 the bona <br /> 1341 1(3) Temporary improvement. The subdivider shall build and pay for all costs of temporary <br /> 1342 improvements required by the city and shall maintain them for the period specified by the city. <br /> 1343 Prior to construction of any temporary facility or improvement,the subdivider shall file with the <br /> 1344 city a separate suitable performance bendsecurity for temporary facilities,which bendsecurity L_----{Commented[JB82]:Check bond versus security <br /> 345 shall ensure that the temporary facilities will be properly constructed,maintained and removed. <br /> June 15,2020 page 31 <br />