Performance Guarantees
1.
Performance guarantees shall be posted prior to the granting of final
developmental approval.
2.
Performance guarantees shall be submitted in favor of Corbin City
in an amount not to exceed 120% of the cost of installation for improvements
it may deem necessary or appropriate including: streets, grading,
pavement, gutters, curbs, sidewalks, street lighting, shade trees,
surveyor's monuments, water mains, culverts, storm sewers, sanitary
sewers or other means of sewage disposal, drainage structures, erosion
control and sedimentation control devices, public improvements of
open space and, in the case of site plans, other on-site improvements
and landscaping. Ten percent of the total performance guarantee shall
be in cash deposited with the City Clerk and the remaining 110% in
a form acceptable to the City Attorney. They may be usable at any
point by the City for the non-performance of the applicant. Such guarantees
shall run for a period of 24 months, subject to extension by the City
Council.
3.
If the required improvements are not completed or corrected in accordance
with the performance guaranteed within the time limit or extension
the obligor and surety shall be liable thereon to the City for all
reasonable costs of improvements not installed and upon receipt of
the proceeds thereof, the City shall install such improvements.
4.
Prior to acceptance of a Performance Guarantee by the City Council,
the Council shall receive:
A.
A letter from the City Engineer stating that the proposed bond covers
all items required.
B.
A list of the items covered and their cost.
C.
A letter of approval from the City Attorney as to bond form.
D.
A letter from City Engineer and Planning Board stating that the plans
meet all specifications.
5.
Following acceptance of a performance guarantee by the City Council,
a letter so stating shall be sent to the Planning Board prior to signing
of final plats for the development.
6.
Prior to release of a performance guarantee in full or part in accordance
with N.J.S.A. 40:55D-53 the City Council shall receive:
A.
A recommendation from the Planning Board.
B.
As built plans of all utilities and roads approved by the City Engineer.
C.
A statement from the developer/subdivider that there are no liens
or other legal encumbrances on any of the improvements or utilities
to be deeded.
D.
Deeds, free and clear from all encumbrances, for all streets, public
easements, drainage easements, or other dedicated lands.
E.
An acceptable maintenance guarantee as outlined in § 20.2
following.
1.
All improvements required by the Planning Board shall, prior to the
release of performance guarantees, be covered by a maintenance guarantee
running in favor of the City in the amount of 15% of the estimated
cost of improvements, as approved by the City Engineer. Said bond
shall run for a period of two years following acceptance by the City
and shall provide for proper repair and/or replacement during this
period. In the event that all improvements have been completed prior
to granting of final approval by the Planning Board, the maintenance
bond shall be posted before final plat approval. Maintenance bonds
will be approved as to form by the City Attorney.
2.
In the event that other governmental agencies or public utilities
will automatically own the utilities to be installed or the improvements
are covered by a performance or maintenance guarantee to another governmental
agency, no performance or maintenance guarantee shall be required
by the municipality for such utilities or improvements.
1.
City Council shall not accept any roadway or other improvement until
the maintenance guarantee has been posted and all deficiencies corrected
or repaired. The City may, however, agree to perform limited services,
if requested in writing by the subdivision developer and if held harmless
for any damages resulting from such action.
2.
A deed for any roadway or improvement shall be submitted to the City
Council prior to being recorded, after the twenty-four-month period
and upon certification from the City Engineer that no further maintenance
is required. The deed will be approved by the City Attorney and recorded
at the expense of the subdivider.
1.
Any subdivision requires off-tract improvements, as defined below
shall comply with the provisions of this Section.
2.
Definition. An off-tract improvement shall be one or more required
improvements necessary for successful completion of a development
in the interest of furthering public health, safety and general welfare
and located outside the bounds of the owner's or subdivider's property.
Off-tract improvement shall be required where:
3.
The proportionate contribution of any such off-tract improvement
to the owner or subdivider shall be reasonably related to the relative
benefit or use of the total area served in line with the following
formulas:
A.
Street widening, alignment, corrections, channelization of intersections,
construction of barriers, new or improved traffic signalization, sign,
curbs, sidewalks, trees, utility improvements not covered elsewhere,
the construction of new streets and other similar street or traffic
improvements.
The owner or subdivider's proportionate cost shall be in the
ratio of the estimated peak-hour traffic generated by the proposed
property or properties to the sum of the present deficiency in peak-hour
traffic capacity of the present facility and the estimated peak-hour
traffic generated by the proposed development. The ratio thus calculated
shall be increased by 10% for contingencies.
B.
Water distribution facilities including the installation of new water
mains, the extension of existing water mains, the relocation of such
facilities and the installation of other appurtenances associated
therewith.
The owner or subdivider's proportionate cost shall be in the
ratio of the estimated daily use of water from the property or properties
in gallons to the sum of the deficiency in gallons per day for the
existing system or subsystem and the estimated daily use of water
for the proposed development. The ratio thus calculated shall be increased
by 10% for contingencies.
C.
Sanitary sewage distribution facilities including the installation,
relocation or replacement of collector and interceptor sewers and
the installation, relocation or replacement of other appurtenances
associated therewith.
The owner or subdivider's proportionate cost shall be in the
ratio of the estimated daily flow in gallons to the sum of the present
deficient capacity for the existing daily flow from the proposed project
or development.
In the case where the peak flow from the proposed development
may occur during the peak flow period for the existing system, the
ratio shall be the estimated peak flow rate from the proposed development
in gallons per minute to the sum of the present peak flow deficiency
in the existing system or subsystem and the estimated peak flow rate
from the proposed development. The greater of the two ratios thus
calculated shall be increased by 10% for contingencies and shall be
the ratio used to determine the cost to the owner or subdivider.
D.
Drainage facility improvements shall be based upon the percentage
relationship between the subdivision acreage and the total acreage
of the drainage basins imparted upon plus 10% for contingencies.
E.
Other facilities or services shall be determined by use of equitable
formula.
4.
Planning Board determination of required off-tract improvements shall
be guided by the zoning articles, land use element and such professional
advice as it may deem necessary for the specific project. Once it
has determined that one or more off-tract improvements are necessary,
the Board shall notify the City Council via resolution of its findings
and shall provide an estimate of cost, a suggested pro-rata share
for the development in question and suggested means of payment. The
Board shall not take final action on a preliminary subdivision until
all aspects of such agreements have been mutually agreed to by developer/subdivider
and the City Council and the Board has been advised in writing by
the Council.
5.
Implementation. Where a performance or maintenance guarantee is required
in connection with off-tract improvement the procedures outlined in
§§ 20.1 and 20.3 of this article shall be followed.
Cash contributions were required by agreement shall be deposited with
the City Clerk who shall place them in an escrow account for the purposes
outlined. If improvements are not completed within 10 years, the funds
shall be returned to the subdivider/developer under terms outlined
by the City Attorney. Cash contributions shall not be required where
county or state agencies have jurisdiction over subject improvement
and where those units require a guarantee that would represent a duplication.
6.
Prior to release of a performance guarantee for off tract improvements
in full or part, in accordance with N.J.S.A. 40:55D-53, the City Council
shall receive:
A.
A recommendation from the Planning Board.
B.
As built, plans of all utilities and roads approved by the City Engineer.
C.
A statement from the developer/subdivider that there are not liens
or other legal encumbrances on any of the improvements or utilities
to be deeded;
D.
Deeds, free and clear from all encumbrances, for all streets, public
easements, drainage easements, or other dedicated lands.
