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oki I <br /> PROPOSED ORDINANCE AMENDMENT <br /> [DRAFT 6/26/96,Revised 7/9/96, 8/2/96, 8/15/96] <br /> ORDINANCE: Subdivision Regulations <br /> REFERENCE: Section III-E(new)Improvements (was V-D-8) <br /> Section III-C-2e Application Requirements(Minor subdivisions) <br /> Section III-D-2-a.(7) Application Requirements(Preliminary Plat) <br /> Section III-D-3a Application Requirements(Final Plat) <br /> ORIGIN OF AMENDMENT: __4=_Staff Planning Board <br /> BOCC Public <br /> Other: County Attorney <br /> Expected Public Hearing Date: August 26, 1996 <br /> Purpose of Amendment: To relocate ordinance provisions regarding required <br /> improvements from Section V, "Plat Specifications," to Section III, "Application and <br /> Approval Procedures," rewrite the section for clarity and to add language regarding <br /> construction cost estimates and financial guarantees. <br /> Impacts/Issues: <br /> The proposed amendment is technical in nature to provide clarity and cohesiveness to the <br /> Subdivision Regulations. The only new text being added is to specify requirements for <br /> construction cost estimates and financial guarantees submitted when improvements are not <br /> completed prior to Final Plat approval. The Planning Staff consulted with the County <br /> Attorney,the County Engineer,and developers to draft the new text. <br /> The following draft of the additional ordinance language specifies that a financial guarantee <br /> must be effective for 372 days, which allows one year for the applicant to complete <br /> subdivision improvements and a week for the County to "cash-in" the letter of credit or <br /> escrow agreement, in the event the improvements are not finished in an acceptable manner <br /> within a year. It also requires that the construction cost estimate be itemized with quantities <br /> and unit prices so that the County Engineer can verify that the estimate total is sufficient to <br /> complete a project according to approved plans. In addition, the new text prohibits anyone <br /> with ownership interest in the subdivision from preparing the construction cost estimate. <br /> The proposed amendment also eliminates the posting of bonds as an option for securing <br /> improvements due to administrative complications associated with bonds. <br />