The type of improvement completion assurance or improvement warranty shall be limited to one of the following:

1. Cash deposit with the city. A cash deposit with the city. Prior to the improvement completion assurance being deemed acceptable by the city, the deposit shall be verified by the city's financial institution as a completed transaction. The deposit shall be in an amount sufficient to cover the requisite improvement completion assurance amount as determined by Section 17.9.300 or 17.9.400, as applicable. Any interest derived shall inure to the benefit of the applicant, provided the applicant makes a written request for payment of said interest on an annual basis thirty days prior to the anniversary date of deposit with the city. Failure of the applicant to make such a request for said interest shall be considered forfeiture of said funds.
2. Escrow account. Establishment of an escrow account by a financial institution acceptable to the city. Said account shall include a written agreement between the city and financial institution containing provisions which include: (1) the amount of the improvement completion assurance, (2) a provision that any release of funds will require the written prior approval of the city (3) be for a period of time equal to the improvement completion assurance period established for the project according to 17.9.300 and 17.9.400, plus six months, and (4) authorization for direct payment to the city by the issuer of the account upon receipt of a notice of default from the city and a request for payment. Any interest derived from the account shall inure to the benefit of the applicant. The escrow shall be in an amount sufficient to cover the requisite improvement completion assurance amount as determined by Section 17.9.300 or improvements warranty amount as determined by 17.9.400, as applicable.
3. Secured letter of credit. A secured letter of credit issued by a federally insured bank, savings and loan, or credit union acceptable to the city, in a form approved by the city attorney. Said form shall include, at minimum, (1) the amount of the improvement completion assurance, (2) a provision that any release of funds will require the written prior approval of the city, (3) be for a period of time no less than that established for the project according to 17.9.300 and 17.9.400, plus six months, (4) authorization for direct payment to the city upon receipt of a notice of default from the city and request for payment. The secured letter of credit shall be in an amount sufficient to cover the requisite improvement completion assurance amount as determined by 17.9.300 or improvement warranty amount as determined 17.9.400, as applicable.
4. Surety bond. Establishment of a surety bond with a bonding company acceptable to the city. Said bond shall be payable to the city and shall be in an amount sufficient to cover the requisite of improvements as determined by Section 17.9.300 and section 17.9.400, as applicable. A surety bond shall not be released until (1) all improvements have been installed, inspected and approved by the city, and (2) the City Council accepts the improvements pursuant to Section 17.9.300 and Section 17.9.400. No surety bond may be released based upon time alone.

(Ord. No. 2017-11-60, 11-14-2017)

Where, in the opinion of the City Council: (1) a developer fails or neglects to satisfactorily install the required public landscaping or public infrastructure improvements within the required time frame or make required correction thereto, or (2) fails to pay all liens in connection with said public improvements, or (3) fails to make payment to the city for reimbursement charges for public improvements previously installed by others, or (4) otherwise fails to carry out the activity for which the improvement completion assurance or improvement warranty was required, the City Council may, after due notice on the matter, declare the improvement completion assurance forfeited. Upon issuance of a declaration of forfeiture, the city shall notify the issuer of the improvement completion assurance and upon receipt of the funds held by the issuer, proceed to install or repair or cause to be installed or repaired, the required but uncompleted or unsatisfactory public improvements. Provided, however, that the city shall not be responsible for work beyond the limits of the improvement completion assurance or improvement warranty amount. Any portion of the improvement completion assurance or improvement warranty remaining after completion of the required public improvements shall be returned to the issuer.

(Ord. No. 2017-11-60, 11-14-2017)

In the event that the developer, after receiving final approval by the land use authority and shall fail to complete construction of the required public improvements pursuant to the provisions of Section 17.9.601 and fails to post an improvement completion assurance, or fails to request and receive approval of an extension, the city council may declare the project a dormant project and thereafter act to rescind prior approval actions and take such other action as it deems appropriate in order to protect the public interest, including but not limited to one or more of the following:

1. For large scale developments granted final approval by ordinance, but not requiring recording at the office of the Utah County Recorder: By passage of a motion to reconsider and enactment of an ordinance repealing the ordinance of approval.
2. For subdivision projects granted final plat approval by ordinance, but not yet recorded at the Office of the Utah County Recorder: By enactment of a motion of the city council to reconsider and rescind the motion of approval.
3. For subdivisions, PUDs, condominium projects and similar projects granted final approval and recorded at the office of the Utah County Recorder:
   1. If covered by a development agreement permitting vacation: By commencement of plat vacation procedures as set forth in state law and enactment of an ordinance repealing the ordinance of approval, where appropriate.
   2. If recorded without a development agreement: By recording of a notice of interest relating to each parcel to the effect that no building permit will be issued for lots on unimproved streets.

(Ord. No. 2017-11-60, 11-14-2017)

The format for securing the improvement completion assurance for a single public rights-of-way permit shall be per Section 17.9.200. Amount of said improvement completion assurance shall be a minimum of two thousand dollars. Following receipt of the notice of completion and request for release, the City Engineer or the designated representative, following an on-site review of the project, shall prepare a report setting forth the condition of the public landscaping and infrastructure. One half of the improvement completion assurance shall be released upon initial completion with the remaining balance of not less than $1,000 being held as an improvement warranty pursuant to section 17.9.400.

In the event that an entity, contractor, franchise utility, or other party providing an improvement completion assurance for work in city rights-of-way wishes to secure sufficient assurance with the city to provide for multiple projects, said applicant shall provide an improvement completion assurance in the amount not less than five times the minimum assurance amount to secure permission for an ongoing improvement completion assurance pursuant to Section 17.9.200. This assurance will allow the applicant to complete multiple projects with a single improvement completion assurance. Additional bonds may be required for each project exceeding the minimum amount.

This assurance shall then serve as sufficient guarantee to allow the applicant to continue work in the city streets until such time as release is requested and all warranty period have passed for work completed under said assurance, or when the city exercises the assurance to complete or remediate work or workmanship. The City Engineer or designated representative shall be the authority determining release and/or calls for performance assurance funds associated with city rights-of-way permitting and work remediation.

In the event a street excavation permit is associated with a development project for which an improvement completion assurance has been provided, the primary means of guarantee for the work in city rights-of-way shall be the amounts secured by the development to ensure completion of the project per Section 17.9 of the City Code.

(Ord. No. 2017-11-60, 11-14-2017)

1. Actual construction of required improvements. The city shall require actual construction of all required public landscaping and public infrastructure improvements prior to plat recordation or development activity.
2. Improvement completion assurance. Improvement completion assurance means an escrow account, cash deposit with the city, secured letter of credit or surety bond provided, upon the applicant's request, to guaranty the proper completion of landscaping or infrastructure improvement required as a condition precedent to:
   1. Recording a subdivision plat; or
   2. Development of a commercial, industrial, mixed use, or multifamily project.
3. Improvement warranty. Improvement warranty means applicant's unconditional warranty that the applicant's installed and accepted landscaping or infrastructure improvement:
   1. Complies with the city's written standards for design, materials, and workmanship; and
   2. Will not fail in any material respect, as a result of poor workmanship or materials, within the improvement warranty period.
4. Infrastructure improvement. Infrastructure improvement means permanent infrastructure that an applicant must install:
   1. Pursuant to published installation and inspection specifications for public improvements; and
   2. As a condition of:
      1. Recording a subdivision plat; or
      2. Development of a commercial, industrial, mixed use, condominium, or multifamily project.

(Ord. No. 2017-11-60, 11-14-2017)

The amount of the improvement completion assurance shall be in an amount equal to or less than one hundred ten percent of the estimated cost for construction of all required public improvements for the project, including: (1) cost of materials, (2) cost of installation, (3) contingency amount for the public improvements, (4) cost for clean-up of the site following completion of construction, (5) amount of reimbursement for public improvements constructed by previous developers, if any, and (6) estimated cost of inspection, administration, and enforcement by the city and their agents.

(Ord. No. 2017-11-60, 11-14-2017)

The amount of the improvement completion assurance shall be determined by the city engineer. The following procedure should be utilized by the city engineer to establish the amount:

1. Applicant shall provide to the city engineer a detailed cost estimate for construction of all required public improvements for the project, including all costs identified in 17.9.301.
2. The city engineer shall review and accept or decline the proposed costs from the applicant. In the event the city engineer declines to accept the proposed cost estimate, he/she shall provide notice to the applicant of which line items are not acceptable and the reason for the declination.
3. Applicant shall resolve the line items declined by the city engineer and re-submit a detailed cost estimate. In the even applicant disputes the city engineers declination he/she shall provide documentation to support the proposed cost estimate.
4. The city engineer shall review that re-submittal to determine the amount of the improvement completion assurance.

(Ord. No. 2017-11-60, 11-14-2017)

1. The duration of the improvement completion assurance shall be for twelve months, or such period of time specified for completion of the respective type of development, if other than twelve months. The improvement completion assurance period shall also include any extensions for completion of public improvements approved in accordance with paragraph B. of this section. The improvement completion assurance period shall commence on the day of recording of any final plat at the office of the county recorder, date of approval action by the land use authority when no recording of a plat is required, or when the improvement assurance is established, whichever occurs later. The city may allow the duration of the improvement completion assurance be extended for a period of up to six additional months in order to provide adequate time for completion of public improvements. The improvement completion assurance period shall continue until the passage of time herein above specified and until the City Council shall have issued a notice of completion and acceptance of public improvements and release of the improvement completion assurance. With the mutual written consent of all parties, the length of the improvement completion assurance period may be shortened.
2. An extension of the improvement completion assurance period may be granted by the City Council upon receipt of a request by the project owner, provided: (1) that such application is submitted at least sixty days prior to the expiration of the improvement completion assurance period, (2) the issuer of the improvement completion assurance is willing to extend the time of the assurance, (3) the city makes a finding that work in completing the required public improvements is satisfactory, (4) the estimated cost of performing the remaining tasks is less than the amount of the assurance remaining, or the amount of the improvement completion assurance is increased in an amount sufficient to cover the remaining tasks and (5) the City Engineer or designated representative makes a finding that the uncompleted work does not pose a hazard or unreasonable inconvenience to the public or adjacent residents. If an extension is not granted by the City Council then default shall occur according to 17.9.500.
3. Any required public improvements to be installed within existing street right-of-way currently in use by the public shall be diligently pursued and completed with minimum disruption to public safety and convenience. In the event that work within the right-of-way area is not diligently pursued in accordance with good engineering and construction practice, the City Council, subject to a finding that the quality or timing of construction is unsatisfactory, inconsistent with reasonable norms of construction practice, and poses unreasonable hazard and inconvenience to the public, may declare part or all of the improvement completion assurance in default and proceed to collection of the proceeds as provided under the terms of Section 17.9.500.

(Ord. No. 2017-11-60, 11-14-2017)

The city may authorize partial release(s) of the improvement completion assurance in an amount not greater than one hundred percent of the: (1) estimated cost of materials and (2) estimated cost of installation of the required public landscaping and public infrastructure improvements. The amount of any partial release shall be in an amount commensurate with the estimated proportionate share of public improvements completed as of the date of the request, as determined by the City Engineer or designated representative, following an on-site review of the project. Requests for partial releases shall be made not more frequently than thirty days and shall be authorized in writing by the City Engineer or the designated representative, subject to a finding that the materials and workmanship conform to city standards and good engineering practice.

(Ord. No. 2017-11-60, 11-14-2017)

1. At such time as all required public improvements have been completed and all outstanding fees due to the city paid, the applicant may request a final release of the improvement completion assurance. An applicant requesting final release shall submit a written notice of completion and request for release. The city may require a copy of lien releases, documentation from all suppliers of materials and sub-contractors showing that their costs have been fully satisfied, a current title report, or such other measure or report as deemed appropriated by the city as a means of determining the existence of any unreported liens upon the project.
2. Following receipt of the notice of completion and request for release, the City Engineer or the designated representative, following an on-site review of the project, shall prepare a report setting forth the condition of the public improvements. If the final inspection report specifies corrections of the improvements, corrections shall be completed within 30 days or the City Council may deem the applicant in default per section 17.9.500. When all improvements are approved by the City Engineer or designated representative, the final report shall be submitted to City Council for review.
3. If the condition of the public improvements is found to be satisfactory; all liens have been released; all outstanding fees, costs of administration and reimbursement payments to prior developers (if any) have been made; and the project clean-up is found to be satisfactory then the City Council shall act to accept the public improvements and authorize release of the remainder of the improvement completion assurance , except such portion of said assurance intended to be applied as part of the improvement warranty pursuant to the terms of Section 17.9.400.
4. Upon issuance of the notice of acceptance of the public improvements and release of the improvement completion assurance relating thereto, the city shall be deemed to have assumed title to the public improvements.
5. The city may initiate the final release and acceptance prior to the end of the improvement assurance period without receipt of a request from the applicant, subject to a finding that construction of the public improvements has been completed in accordance with city standards or that early activation of the public improvements is necessary to provide access, circulation and/or utility or fire service to adjacent properties.

(Ord. No. 2017-11-60, 11-14-2017)

1. Concurrently with the final release of the improvement completion assurance and acceptance of the public improvements by the city council, an improvement warranty shall be established. The amount of the improvement warranty shall be in the amount of up to ten percent of the lesser of the (1) cost of completion as determined by the city engineer pursuant to 17.9.302 or (2) applicant's reasonable proven cost of completion.. The improvement warranty shall serve to ensure the durability of the constructed public improvements during the improvement warranty period.

(Ord. No. 2017-11-60, 11-14-2017)

The length of the improvement warranty period shall be no later than one year after the city's acceptance of required landscaping or one year after the city's acceptance of required infrastructure unless the city determined, for good cause, that the one-year period would be inadequate to protect the public health, safety, and welfare and has substantial evidence, on the record, of prior poor performance by the applicant or that the area upon which the infrastructure will be constructed contains suspect soil and the city has not otherwise required the applicant to mitigate the suspect soil.

If, during the improvement warranty period, the quality of materials and workmanship of the public improvements is found to be satisfactory, the improvement warranty shall be released in accordance with the procedure set forth in Section 17.9.400. If, however, during the improvement warranty period the quality of materials or workmanship of the public improvements fail in any material respect, or if it becomes evident that certain work was not completed or that the public improvements do not otherwise comply with the city's written standards for design, material, and workmanship, said condition shall be corrected by the applicant. If the durability inspection report specifies corrections of the improvements, corrections shall be completed within 30 days or the City Council may deem the applicant in default per Section 17.9.500 and use the improvement warranty funds to defray the cost of any required work.

(Ord. No. 2017-11-60, 11-14-2017)

1. At the conclusion of the improvement warranty period, the City Engineer or the designated representative, following an on-site review of the project and a finding that the quality of construction and materials have endured without evidence of poor workmanship or materials, nonconformance of the city's written standards, or need for remedial action, shall prepare a report setting forth the condition of the public improvements. When all improvements are approved by the City Engineer or designated representative, a durability report shall be submitted to city council for review.
2. The City Council may authorize the release of the improvement warranty.

(Ord. No. 2017-11-60, 11-14-2017)

1. The maximum period of time for which the council's approval action of a subdivision or other development project which includes the sale of individual parcels and requires recording at the office of the county recorder shall remain valid (delay-in-recording period) not more than two hundred seventy five days from the date of action by the City Council. An extension of the time, not to exceed ninety days may be granted by the City Council provided:
   1. Application is made by the developer and submitted sixty days prior to the end of the two hundred seventy five day period; or
   2. The City Council finds that the developer has been delayed by circumstances beyond control.
2. At the end of the approved delay-in-recording period and any extensions which may have been granted, the city may declare the project a dormant project and proceed to terminate approval as provided under Section 17.9.700.

(Ord. No. 2017-11-60, 11-14-2017)