A. 
No final development proposal shall be approved by the department, building permit issued for site plans, or certificate of occupancy or other permit issued, until each and all grading, paving of the streets, installation of curbs, sidewalks, monuments, sanitary and storm sewers, street lights, water mains, street signs and other improvements approved or required by the department are installed in accordance with the city standards and approved by the city engineer and the director.
B. 
In lieu of the completion of the actual construction and installation of the improvements referred to in NMC § 17.04.020 prior to: (1) the final approval of the development proposal; (2) the issuance of a building permit for site plans; or (3) the issuance of a certificate of occupancy or other permit, the applicant may deposit a performance bond with the director as a guarantee that the applicant will, within one year from the date of approval of the development proposal, or within one year from the issuance of the building permit for site plans, fully complete the construction and installation of the required improvements to the satisfaction of the city engineer and director.
(Ord. 2021-634 § 3)
A. 
In each case where the city allows an applicant to post a performance bond, the director shall determine the adequacy and type of bond the applicant will use.
B. 
The performance bond shall guarantee the full and complete construction and installation of the required improvements, in accordance with city standards and to the satisfaction of the city engineer and director, within one year from the date of the approval of the development proposal, or within one year of the issuance of the building permit for site plans. When a performance bond is used, an applicant may be allowed to obtain approval of a development proposal, or obtain a building permit, certificate of occupancy or other permit prior to completing only the following improvements:
1. 
The installation of street trees;
2. 
The installation of sidewalks; provided, that certificates of occupancy of abutting houses shall not be issued until sidewalks are installed;
3. 
The installation of the final lift of pavement; and
4. 
The installation of landscaping and critical areas plans. In no instances shall the applicant be granted final approval of a development proposal, or be permitted to obtain a building permit, certificate of occupancy or other permit, prior to completion of any other improvements, including all off-site improvements, specified as part of the development proposal or as conditions of approval.
C. 
The performance bond for improvements shall be submitted to the city and approved by the director prior to any issuance of construction or right-of-way permits necessary for the development.
(Ord. 2021-634 § 3)
A. 
The application shall guarantee the successful operation, maintenance, repair, and replacement of the required improvements for a period of two years following the later of:
1. 
Final plat recording; or
2. 
Acceptance by the city of the construction and installation of the improvements following the final construction inspection.
B. 
The applicant is required to post with the director, in a form and in an amount acceptable to the director, a maintenance bond as security for the applicant's guarantee of the successful operation, maintenance, repair and replacement of the required improvements.
(Ord. 2021-634 § 3)
The director shall base the determination of the amount of the performance and maintenance bonds as follows:
A. 
For a performance bond the amount will be 100 percent of the estimated cost of constructing and installing the improvements plus an additional 30 percent for administrative fees and contingency costs.
B. 
For a maintenance bond the amount will be either 30 percent of the performance bond or 30 percent of the actual cost of construction and installation of the improvements, whichever is less. To determine the actual cost of construction and installation of the improvements, the applicant shall submit to the director a certified statement detailing and verifying the actual costs incurred. The director may request additional information from the applicant to support the statement.
C. 
For subdivisions and plats, the amount of performance and maintenance bonds shall be as prescribed in NMC § 20.06.040.
(Ord. 2021-634 § 3)
After the required improvements covered by a performance bond have been completed and accepted by the city and the maintenance bond has been posted, or at the end of the period of time covered by the maintenance bond, the applicant may request the city to release the performance bond or maintenance bond. If the applicant has complied with the applicable bond agreement and the provisions of this chapter, the director shall release the applicable bond.
(Ord. 2021-634 § 3)
It is intended that all monuments shall be set prior to final approval or certificate of occupancy, in accordance with the requirements for monuments as specified in Section 4.30(B) of the public works standards.
(Ord. 2021-634 § 3)