In the case of a petition for a change in zoning
district filed with respect to a Planned Development District, except
where such change is requested by the Board of Trustees, such change
in zoning district shall not become effective until the petitioner
has filed a performance bond in such amount and under such conditions
as the Planning Commission may deem to be in the best interests of
the public, to ensure that the proposed development of the area to
be rezoned will be built in full compliance with the provisions of
the accepted development plan. Where such district is created by the
Board of Trustees, an owner may not go forward with any development
until the filing of a performance bond as required in this section.
The Board of Trustees may, by separate resolution,
authorize the Planning Commission to vary the strict application of
the zoning provisions of the Code during the consideration of any
subdivision application, all in accordance with the provisions of
§ 7-738 of the Village Law.