Agenda - Council - 08/23/1983 - Laserfiche WebLink

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I I I I I i i I I I I I I I I I I I 9. Requirements Waived. a. Must be owner or subdivider's homestead. b. The division is the entire property, and meets City Code requirements. c. The parcels shall be for single family residential use only. d. No more than five (5) parcels created. e. The requirements of this section relating to the platting of land shall be applicable to any such division of lands and properties. f. Lands and properties abutting land and property being so divided shall themselves have previously been platted and divided. g. The estimated market value of each parcel following such division of land must exceed the amount of special assessments previously levied and allocated to each parcel. CITY PARTICIPATION, NON-RESIDENTIAL DEVELOPMENTS Certain Improvements. The owner or subdivider of non residential property may request City participation. 2. Assessments. The procedure shall be the same as Section 170.039D except: a. Special assessments shall be for ten (10) years; and b. The bond or letter of credit shall be for the length of the assessment. 170.039F SUBDIVIDER MAY PERFORM WORK, ELECTION The owner or subdivider may elect to construct the improvements required by this section at his own expense and without City participation in the expense thereof. 170.039G PERFORMANCE CONTRAC~ Prior to the installation of any required improvements by a subdivider and prior to Council approval of the final plat, the subdivider shall enter into a performance contract ~rlth the City. 170.039H FINANCIAL SECURITY (SUBDIVISIONS WITH NON- CITY PARTICIPATION) The performance contract shall require the subdivider to make a cash escrow deposit or furnish a performance bond as follows: 1. The subdivider shall deposit with the City Treasurer a cash amount or letter of credit equal to one hundred fifty percent (150Z) of the total 170.039E 1.