(A)

Subdivisions. The Planning Commission may approve a subdivision final plat prior to the installation of the final pavement, sidewalks, tree replacements, or landscaping if all other required improvements have been substantially completed as determined by the City Engineer after the final inspection, provided the developer deposits with the city, or provides the following in an amount equal to 150% of the estimated cost of the uncompleted improvements as determined by the City Engineer:

(1)

Currency. U.S. currency;

(2)

Bond. A performance/surety bond; or

(3)

Letter of Credit. An irrevocable letter of credit from a bank, or banking institution doing business in this state which is a member of the Federal Deposit Insurance Corporation.

(4)

Sidewalks. Sidewalks may be guaranteed pursuant to §166.04.

(B)

Large Scale Developments and Large Site Improvement Plans. The Planning Commission may approve an office, residential, commercial, or industrial Large Scale Development plan and the Planning Division may administratively approve a Large Site Improvement Plan prior to the installation of the required improvements; however, no building permits may be issued until one (1) of the following has occurred:

(1)

Complete. All of the required improvements have been completed; or

(2)

Deposit. The developer deposits with the city or provides the following in an amount equal to 150% of the estimated cost of the uncompleted improvements as determined by the City Engineer.

(a)

Currency. U.S. currency;

(b)

Bond. A performance/surety bond; or

(c)

Letter of Credit. An irrevocable letter of credit from a bank, or banking institution doing business in this state which is a member of the Federal Deposit Insurance Corporation.

(C)

Remedies. The city has the following options if the improvements have not been constructed after two hundred seventy (270) days:

(1)

Deposit of U.S. Currency.

(a)

Construct Improvements. Construct the remaining improvements using the U.S. currency. Any balance remaining after the improvements have been constructed shall be returned to the developer; or

(b)

Hold Currency. Continue to hold the U.S. currency until the developer completes the required improvements. After the City Engineer certifies that the improvements have been complete, the entire deposit shall be returned to the developer.

(2)

Irrevocable Letter of Credit.

(a)

Call Letter of Credit. Call the irrevocable letter of credit and use the proceeds to construct the remaining improvements. Any balance remaining after the improvements have been constructed, shall be returned to the developer; or

(b)

Amend Letter of Credit. Amend the irrevocable letter of credit or require the developer to provide another irrevocable letter of credit for any uncompleted improvements in an amount equal to 150% of the estimated cost of remaining improvements as determined by the City Engineer. After the City Engineer certified as to which improvements have been completed, the guaranteed amount for any completed improvements may be returned to the developer.

(3)

Performance/Surety Bond.

(a)

Terms of Bond. The surety shall be notified and the parties shall proceed under the terms of the bond; or

(b)

Amend Bond. Amend the performance/surety bond, or require the developer to provide another performance/surety bond for any uncompleted improvements in an amount equal to 150% of the estimated cost of remaining improvements as determined by the City Engineer.

(Code 1965, App. C., Art. III, §B; Ord. No. 1979, 2-5-74; Code 1991, §159.34; Ord. No. 3869, §1, 2-21-95; Ord. No. 3958, §1, 4-2-96; Ord. No. 4100, §2 (Ex. A), 6-16-98; Ord. No. 5296, 12-15-09)

(A)

Bond. No person shall make any excavation of a street or public right-of-way unless a bond is first issued to the city for the purpose of guaranteeing repair and replacement of said street or public right-of-way. Said bond shall be in an amount equivalent to the estimated cost of properly repairing and replacing said street or public right-of-way, as determined by the City Engineer. To satisfy this requirement, the person or contractor may provide a cash bond, surety bond, or irrevocable letter of credit. Permanent bonds or letters of credit held by the city under the terms of an existing franchise agreement shall be considered sufficient to fulfill the surety requirements for any person or contractor acting as an agent for the franchise holder. The franchise holder shall submit a letter or other document verifying that the person or contractor is the franchisee's agent and is covered by the franchise holder's standing bond or letter of credit.

(B)

A person or contractor in the business of performing utility construction and/or maintenance that requires excavation in the public right-of-way or is engaged in a contract to perform work that includes excavation in the public right-of-way may provide a standing bond sufficient to cover the scope of the expected number of permits applicable to each and every site upon which to work is scheduled to take place and where a permit will be required. The standing bond will remain in place until the completion of all permitted work and all permitted work is fully inspected by the city and deemed to be satisfactory.

(C)

The bond shall be forfeited, all or in part thereof, if within sixty (60) days after written notice, the person or contractor fails to reimburse the city for documented expenses incurred for its failure to comply with the rules of public safety, failure to close the opening within twenty-four (24) hours after the work has been completed, failure to complete the backfill and repair in accordance with specifications, failure to complete the necessary cleanup, or repair of damage to public property including but not limited to the street subgrade, asphalt surface, concrete surface, curb and gutter, sidewalk, and/or all infrastructure located within the public right-of-way or causing damage to vehicular or other traffic.

(D)

Bond release: Upon completion of work within the public right-of-way, the person or contractor who obtained the permit shall contact the city to schedule an inspection. The city will inspect the work within five (5) business days to determine if work is complete and if any damages were caused.

(1)

If damage to the public right-of-way has occurred due to permitted work, the city will provide the person or contractor a list of required repairs. All repairs must then be completed within thirty (30) days.

(a)

Once repairs are completed, the city shall be notified for a follow up inspection. Once repairs have been confirmed, the bond will be released.

(b)

If repairs are not completed within thirty (30) days and the person or contractor has failed to compensate the city for the city's expenses incurred in making such repairs within sixty (60) days after written notice, the bond will be forfeited.

(2)

If no damages were caused, the bond will be released.

(Code 1991, §161.23; Ord. No. 3551, 6-4-91; Ord. No. 4100, §2 (Ex. A), 6-16-98; Ord. No. 6287, §1, 2-18-20; Ord. No. 6446, §6, 6-15-21)

(A)

Installed Improvements. An acceptable guarantee shall be provided in the amount of 25% of the total contract price of the public improvements including water, sewer, streets, and the stormwater management drainage system against defects in workmanship and materials for a period of two years from the date of acceptance of such improvements. The guarantee shall be filed with the City Engineer prior to the acceptance of the improvements by the city. A walk-through shall be performed at the end of the two (2) year period and all deficiencies corrected prior to the release of the bond.

(B)

Erosion and Sediment Control. For developments in excess of 5 acres, an acceptable guarantee shall be provided at the time of the issuance of the drainage permit in the amount of 100% of the total cost to install the approved Erosion & Sediment Control Plan to insure the continuation of the proper maintenance of the plan. The guarantee shall remain in place until permanent stabilization has been achieved for the development site.

(Code 1965, App. C., Art. III, §C: Ord. No. 1750, 7-6-70; Code 1991, §§159.35, 163.13; Ord. No. 3895, §1, 6-20-95; Ord. No. 4100, (Ex. A), 6-16-98; Ord. No. 5140, 5-06-08; Ord. No. 5184, 10-7-08)

The Building Official may require bonds or other sureties in such form and amounts as may be deemed necessary to assure the work, if not completed in accordance with the approved plans and specifications, will be corrected to eliminate hazardous conditions.

(Code 1991, §161.23; Ord. No. 3551, 6-4-91; Ord. No. 4100 (Ex. A), 6-16-98)

(A)

Determination of Need For Impact Fee. If the Planning Commission determines that a particular development would cause a need for a specific infrastructure development that cannot be built until future development occurs, the developer shall pay to the city a development impact fee in an amount determined by the Planning Commission in accordance with the standards prescribed in §166.04 to be the developer's constitutional proportionate share of the cost of such specific infrastructure need.

(B)

Collection of Impact Fee. As a part of the approval of the developer's subdivision approval, the developer shall pay the amount determined appropriate, legal and constitutional by the Planning Commission. The city shall deposit these funds into a special interest-bearing account and follow all requirements of A.C.A. §14-56-103(f) and (g).

(C)

Refund of Unused Impact Fees. If all or a portion of the collected impact fee has not been properly expended upon the specific infrastructure project within seven (7) years from the date the fees were paid, the city shall refund all unused funds plus accrued interest to the present owner of the property that was subject of the new development and against which the fee was assessed and collected as required by A.C.A. §14-56-103(h).

(D)

Compliance with State Law. The section shall be interpreted to conform with A.C.A. §14-56-103 and all requirements of that law as well as any future amendments.

(Ord. No. 4100, §2 (Ex. A), 6-16-98; Ord. No. 5296, 12-15-09; Ord. No. 6466, §1, 8-17-21)

Editor's note— Ord. No. 6466, §1, adopted Aug. 17, 2021, amended §158.05 in its entirety to read as herein set out. Former §158.05, pertained to off-site improvement and delays. The historical notation has been retained for reference purposes.

In lieu of issuing a notice as set forth in §171.12, the Mayor may accept a bill of assurance executed by the property owner to guarantee installation of the sidewalk within three (3) months from receipt of notice from the Mayor. The property owner's obligation under the bill of assurance shall be a covenant running with the land, and the form of the bill of assurance shall be approved by the City Attorney.

(Ord. No. 4100, §2 (Ex. A), 6-16-98)