[Amended 11-15-2006 by L.L. No. 20-2006]
A.
After adoption of a resolution approving a final subdivision plat and before the plat is endorsed by the Planning Board Chairman or other duly authorized member, the applicant shall be required to complete, at his expense and without reimbursement by the Town or any special district, all street and other improvements as shown on the approved construction plans or otherwise specified in the resolution and to dedicate same to the Town of North Castle free and clear of all liens and encumbrances on the property and public improvements thus dedicated.
(1)
The Planning Board, at its discretion, may waive the requirement that the applicant complete and dedicate all public improvements prior to the signing of the subdivision plat and permit the applicant to post a bond or other security sufficient to cover the full cost of the same at the time of application for final subdivision approval in an amount estimated by the Planning Board as sufficient to secure to the Town the satisfactory construction, installation and dedication of the incomplete portion of required improvements. Any such security must be provided pursuant to a written security agreement with the Town, approved by the Town Board and also approved by the Town Attorney as to form, sufficiency and manner of execution, and shall be limited to:
(a)
A performance bond issued by a bonding or surety company;
(b)
The deposit of funds in or a certificate of deposit issued by a bank or trust company located and authorized to do business in this state;
(c)
An irrevocable letter of credit from a bank located and authorized to do business in this state;
(d)
Obligations of the United States of America; or
(e)
Any obligations fully guaranteed as to interest and principal by the United States of America, having a market value at least equal to the full cost of such improvements.
(2)
If not delivered to the Town, such security shall be held in a Town account at a bank or trust company.
(3)
Such bond shall state the period within which the required improvements must be completed, which period shall not exceed three years; however, the term of such performance bond or security agreement may be extended by the Planning Board with consent of the parties thereto.
(4)
All improvements shall be completed to the satisfaction of the Town Engineer and approved by the Planning Board, in accordance with the approved construction plans and the requirements of these regulations and the Town construction standards and specifications.
B.
Required improvements.
[Added 11-18-2015 by L.L. No. 9-2015]
(1)
The applicant shall provide the following improvements when required by the Planning Board:
(a)
Paved streets.
(b)
Corner curves and paved aprons.
(c)
Sidewalks.
(d)
Water mains and fire hydrants/dry hydrants.
(e)
Sanitary sewage disposal facilities.
(f)
Storm drainage system facilities.
(g)
Street signs.
(h)
Streetlighting.
(i)
Street trees.
(j)
Seeding or sodding of planting strips with lawn grass.
(k)
Parklands.
(2)
In making a determination to require such improvements, the Planning Board shall take into consideration the prospective character of the development and surrounding environment.
C.
Failure to complete improvements.
(1)
Where a bond is not filed. If all required improvements are not completed within the period specified in the Planning Board resolution of approval, such approval shall be deemed to have expired unless, upon request of the applicant, the period has been extended by resolution of the Planning Board.
(2)
Where a bond is filed. If all required improvements are not completed within the term specified by the Planning Board and set forth in the filed bond and if no application for the extension of such period and bond has been made by the applicant and approved by the Planning Board, the Town Board may thereupon declare said bond to be in default and collect the sum remaining payable thereunder, and upon receipt of the proceeds thereof, the Town shall install such improvements as are covered by the bond and are commensurate with the extent of building development that has taken place in the subdivision but not exceeding, in cost, the amount of such proceeds.
D.
Modification of bond.
(1)
Extension of period specified in bond. The time period specified for the completion of all required improvements, as set forth in the bond, may be extended only by resolution of the Planning Board upon request by the applicant setting forth, in detail, the amount of work which has been completed, reasons for failure to complete the remainder of the work within the specified period, the maximum estimated time required to complete the remainder of the work and the time period extension which is requested.
(2)
Reduction of bond. An applicant may request, in writing, that the Planning Board recommend to the Town Board the reduction in the amount of the bond. Such request shall itemize the extent of required improvements already completed, the estimated cost of improvements remaining to be completed and the amount of bond reduction requested. Then, upon approval of the Planning Board, the Town Board may, if it determines that sufficient required improvements have been installed to warrant such action, reduce the face amount of the bond by an appropriate amount so that the new amount will cover the cost in full of all required improvements remaining to be completed, and any security deposited with the bond may be reduced proportionately. In no case shall a performance bond be reduced below 25% of the principal amount.
[Amended 11-15-2006 by L.L. No. 20-2006]
E.
Modification of requirements. If at any time, either before or during the course of construction of the required improvements, it is determined by the Planning Board that unforeseen conditions make it necessary to modify the location or design of any improvements, the Board may modify the terms and conditions of the approval so as to require such changes as may be necessary to comply with the spirit and intent of the Planning Board's original approval and to conform to accepted engineering practices. If such modification affects the scope of work covered by a bond, the Board may recommend to the Town Board that it approve appropriate modification of such bond.
F.
Escrow deposits with Building Inspector. Whenever, by reason of the season of the year, any required improvements cannot be undertaken or completed, the Building Inspector may nevertheless issue a certificate of occupancy, provided that there is no danger to health, safety or general welfare, upon accepting a cash escrow deposit in an amount to be determined by the Town Engineer and Highway General Foreman for the cost of completing said improvements. At the time of request to deposit escrow moneys with the Building Inspector and prior to the issuance of the certificate of occupancy, the developer shall obtain and file with the Building Inspector a notarized statement from the purchaser or purchasers of the subject properties authorizing the Building Inspector to install the improvements in the event that the same have not been duly installed by the developer.
G.
Time for completion. All required improvements for which escrow moneys have been accepted by the Building Inspector at the time of issuance of a certificate of occupancy shall be installed by the developer within a period of nine months from the date of deposit and issuance of the certificate of occupancy. In the event that said improvements have not been properly installed, at the end of said time period the Building Inspector shall give two weeks' written notice to the developer requiring him to install same, and in the event that same are not installed properly in the discretion of the Building Inspector, the Building Inspector may request the Town Board to authorize the Town to proceed to contract out the work for the installation of the necessary improvements in a sum not to exceed the amount of the escrow deposit.