§ 20-122. Site plan permit.

(a)

The terms and conditions of approval of the site plan shall be embodied in a permit signed by the property owner and the city. The permit shall be recorded against the title to the property.

(b)

A letter of credit or cash escrow shall be required to ensure satisfactory installation of site improvements in an amount equal to 110 percent of the value of the required improvements. The developer is obligated to install and complete all such improvements at his or her own expense and under the supervision and inspection of the city. The guarantee shall be provided prior to recording the site plan permit and shall be valid until the improvements are inspected and approved by the city.

(c)

Procedures for the reduction or release of security shall include:

(1)

Requests for reductions of letters of credit must be submitted to the city in writing by the developer or their engineer.

(2)

The city shall verify completion of the improvements.

(3)

Any reduction shall be subject to city approval.

(Ord. No. 161, § 1, 1-13-92; Ord. No. 612, § 4, 12-14-15)