City of Weldon Spring, MO Additional Building Regulations

[R.O. 2004 § 500.180; Ord. No. 98-39 §§ 1 — 7, 12-8-1998]

Performance Guarantee. After approval of grading plans by the City, the property owner/developer shall post a financial guarantee of performance for construction grading, siltation control, storm drainage, mulching, seeding and tree replacement as well as streets, water and sewer the total of which shall be in an amount approved by the City Engineer in his/her estimate of the cost of the improvements as reflected by the approved construction plan.

Escrow Agreement. For all developers proposing to establish escrows, the City will require its escrow agreement form to be used.

Amount. The bond or escrow account shall be an amount equal to the estimated cost for completing construction of the improvements, including cost escalations, over the anticipated construction period and contingencies as estimated by the developer's engineer in a detailed estimate of quantities and list prices verified by the City Engineer and approved by the Board of Aldermen. Escrow for subdivision amenities shall be established as follows. A prorated formula of percent of lots recorded to percent of cost of amenities shall be used up to the recording of fifty percent (50%) of the subdivision lots. At this time, the entire cost of the subdivision's amenities shall be escrowed.

Term Length And Reduction. The term length in which the bond escrow account is in force shall be for a period to be specified by the Board not to exceed two (2) years for the improvement. During the period the bond or escrow account is in force, the developer may request inspection of completed improvements by the City Engineer who will assure that a certain percentage of the improvements have been completed. The City Engineer may then authorize reduction in the bond or escrow in force in an amount equivalent to the percentage of completed improvements. At no time will the amount of the bond or escrow account be reduced to less than the cost of completing said remaining improvements. Upon the City Engineer's assurance of the proper completion of all subdivision improvements, all of the escrowed funds may be released except for ten percent (10%) retainage for the street, storm sewer, water and sanitary sewer improvements. Retainage may be released if there are no problems at the end of one (1) year after the certification of completion and after the Board of Aldermen has formally accepted the dedication of the street, storm sewer, water and sanitary improvements.

Failure To Complete The Construction Of An Improvement. In the event the developer shall, in any case, fail to complete such work within the period of time required by the conditions of the guarantee for the completion of improvements under the jurisdiction of the City, it shall be the responsibility of the Board to have such work completed. In order to accomplish this, the Board shall reimburse itself of the cost and expense thereof by appropriating the cash deposit, certified check or irrevocable bank letter of credit or other negotiable financial instruments which the developer may have deposited in lieu of a surety bond or may take such steps as might be necessary to require performance by the bonding or surety company and as included in the written agreement between the Board and the developer.

Inspection Of Improvements. All improvements required shall be inspected by the developer's engineer or his/her agent and certified in writing to the City Engineer as having been completed except for improvements made under jurisdiction of other public agencies, in which case engineers or inspectors of each agency will make the necessary inspections. Where inspections are made by other agencies, the City Engineer shall be given written reports of each final inspection.

Inspection Schedule. It shall be the responsibility of the developer to notify the City Engineer when installations have been inspected and are ready for his/her approval.