The applicant may be required to post performance
bonds or other form of surety approved by the Town Board in sufficient
amounts and duration to assure that the applicant shall faithfully
cause to be constructed and completed within a reasonable period of
time the required improvements and convey the required lands and improvements,
where applicable, to the Town free and clear of all encumbrances.
The form of the bond shall be approved by the Town's attorney. The
need for a performance bond and its amount shall be approved by the
Town Board, with the recommendation of the Planning Board and the
Town Engineer.
A. Procedure. Before the Planning Board grants final approval of the final subdivision plat, the applicant shall provide to the Planning Board a detailed engineer's cost estimate for all required improvements for review and concurrence by the Town Engineer. Approval of the final subdivision plat shall follow the procedure set forth in either Subsection
A(1) or
(2) herein:
(1) If any amount is recommended by the Planning Board
with the Town Engineer to the Town Board, the applicant shall either
file with the Town Clerk a certified check to cover the full cost
of the required improvements, or the applicant shall file with the
Town Clerk a performance guarantee to cover the full cost of the required
improvements. Any such performance bond or equivalent security shall
comply with the requirements of § 277 of the New York State
Town Law and, further, shall be satisfactory to the Town Board and
Town Attorney as to form, sufficiency, manner of execution and surety.
A period of one year or such other period as the Planning Board may
determine appropriate, but not exceeding three years, shall be set
forth in the bond or equivalent security as the period within which
the required improvements must be completed. The applicant shall additionally
file a copy of said certified check or other performance guarantee
with the Planning Board. If the Planning Board shall decide at any
time during the term of the performance guarantee that the extent
of building development that has taken place in the subdivision is
not sufficient to warrant all the improvements covered by such performance
guarantee, or that required improvements have been installed in sufficient
amount to warrant reduction in the amount of said performance guarantee,
or that the character and extent of such development requires additional
improvements previously waived for a period stated at the time of
fixing the original terms of such bond or equivalent security, the
Planning Board may modify its requirements for any or all such improvements,
and the face value of such performance guarantee shall thereupon be
reduced or increased by an appropriate amount so that the new face
value will cover the cost in full of the amended list of improvements
required by the Planning Board and any security deposited with the
bond may be reduced or increased proportionately. Any such increase
or decrease in the performance guarantee shall be reviewed by the
Town Engineer and approved by the Town Board.
(2) The applicant shall complete all required improvements
to the satisfaction of the Town Engineer, who shall file with the
Planning Board a letter specifying the satisfactory completion of
all improvements required by the Planning Board. For any required
improvements not so completed, the applicant shall file with the Town
Clerk a bond or certified check covering the costs of such improvements,
in addition to the cost of satisfactorily installing any improvements
not approved by the Town Engineer. Any such bond shall be satisfactory
to the Town Board and Town's attorney as to form, sufficiency, manner
of execution and surety. The applicant shall additionally file a copy
of said certified check or other performance guarantee with the Planning
Board. The applicant shall file with the Town Board a maintenance
bond in an amount of 15% of the cost estimate for installation of
required improvements and which shall be adequate to assure the satisfactory
condition and operation of the initial public improvements for a period
of one year following their completion and acceptance. Such maintenance
bond shall be satisfactory to the Town Board and Town Attorney as
to form, manner of execution and surety and in an amount satisfactory
to the Town Engineer. The applicant shall additionally file a copy
of said certified check or other performance guarantee with the Planning
Board.
B. As-built drawing required. No required improvements shall be considered to be completed until the installation of the improvements has been approved by the Town Engineer and a map certified by the applicant's engineer and satisfactory to the Planning Board has been submitted indicating the specific location of all underground utilities as actually installed. If the applicant completes all required improvements according to provisions of Subsection
A(2) above, then said map shall be submitted prior to endorsement of the final plat by the Planning Board Chairperson. However, if the applicant chooses to provide a performance guarantee for all required improvements as specified in Subsection
A(1) above, such bond or equivalent security shall not be released until the required as-built drawing is submitted and deemed satisfactory by the Planning Board. Such release shall require the approval of the Town Board.