Prior to an action by the Planning Board approving
a subdivision plat, the applicant shall be required to complete, in
accordance with the Planning Board's decision, all the street and
other improvements specified in the action approving said plat and
listed below or, as an alternative, to file with the Village Board
a bond in an amount estimated by the Planning Board to secure to the
Village the satisfactory construction and installation of the incomplete
portion of the required improvements. All required improvements shall
be made by the Village.
The applicant shall build and pay for all costs
of temporary improvements required by the Planning Board and shall
maintain the same for the period specified by the Planning Board.
Prior to construction of any temporary facility or improvement, the
developer shall file with the local government, a separate suitable
bond for temporary facilities, which bond shall insure that the temporary
facilities will be properly constructed, maintained and removed.
All required improvements shall be made by the
applicant, at his or her expense, without reimbursement by the Village.
For subdivisions for which no performance bond
has been posted, if the improvements are not completed within the
period specified by the Planning Board in the resolution approving
the plat, the approval shall be deemed to have expired. In those cases
where a performance bond has been posted and required improvements
have not been installed within the terms of such performance bond,
the local government may thereupon declare the bond to be in default
and require that all the improvements be installed regardless of the
extent of the building development at the time the bond is declared
to be in default.
Acceptance of formal offers of dedication of
streets, public areas, easements and parks shall be by ordinance of
the Village Board. The approval by the Planning Board of a subdivision
plat shall not be deemed to constitute or imply the acceptance by
the Village of any street, easement or park shown on said plat. The
Planning Board may require said plat to be endorsed with appropriate
notes to this effect.
The Village may employ the Zoning Enforcement
Officer to act as agent of the Planning Board for the purposes of
assuring the satisfactory completion of improvements required by the
Planning Board and shall determine an amount sufficient to defray
costs of inspection. The applicant shall pay the Village costs of
inspection before the subdivision plat is signed for filing. If the
Planning Board or its agent finds, upon inspection, that any of the
required improvements have not been constructed in accordance with
the approved drawings, the applicant and the bonding company will
severally and jointly be liable for the costs of completing said improvements
according to specifications.