[HISTORY: Adopted by the Town Board of the
Town of Poughkeepsie 10-24-1990 by L.L. No. 16-1990. Amendments noted
where applicable.]
GENERAL REFERENCES
Subdivision of land — See Ch. 177.
This chapter shall be known and cited as the
"Cancellation of Pledge Securities."
A.
The Planning Board of the Town of Poughkeepsie is
authorized, by § 277 of Town Law, to require owners or developers
of certain developments in the Town of Poughkeepsie to pledge securities
to support their performance obligations in the form of a performance
bond, letter of credit or other securities acceptable to the Town
Board of the Town of Poughkeepsie as a prerequisite to the receipt
of final approvals for subdivision plats.
B.
The Planning Board of the Town of Poughkeepsie does
normally set the amount of the security and the form thereof, subject
to a review and acceptance by the Town Board of the Town of Poughkeepsie.
C.
The Planning Board of the Town of Poughkeepsie and
the Town Board of the Town of Poughkeepsie have heretofore authorized
and accepted performance bonds or letters of credit as security.
D.
It has been the policy of the Town Board of the Town
of Poughkeepsie and the Planning Board of the Town of Poughkeepsie
to receive and review applications for a reduction in the amount of
the security at various stages, prior to the obligor's completion
of all responsibilities and conditions under the obligation.
E.
The practice of receiving and allowing reductions
of the pledged security during the course of the completion of the
projects has been determined to be detrimental to the efficiency of
the Town Board of the Town of Poughkeepsie, to the Planning Board
of the Town of Poughkeepsie and to the agents, servants and employees
of the Town of Poughkeepsie, and furthermore, such procedure has failed
to adequately protect the general health, welfare and safety of the
residents of the Town of Poughkeepsie because the obligations are
left incomplete or completed to a minimum standard.
This chapter, to amend the procedure for review
of applications for cancellation of bonds and to require that no interim
reductions of pledged securities shall be authorized, is enacted pursuant
to § 10, Subdivision 1(ii)d(3), of the Municipal Home Rule
Law. This chapter expressly amends and supersedes some provisions
of § 277 of the Town Law of the State of New York.
As used in this chapter, the following terms
shall have the meanings indicated:
One who is obligated by the action of the Town Board, the
Town Planning Board or any agency of the Town to fulfill the conditions
as set forth as a requirement for subdivision approval.
Performance bond, letter of credit or bank account.
A.
When an obligor has completed all obligations required
as a condition of his or her subdivision approval which are covered
by the security, than said obligor shall forward a written request
to the Town Clerk of the Town Board for an order canceling the obligation.
B.
If the amount of the obligation has heretofore been
set by the Planning Board of the Town of Poughkeepsie, upon receipt
of the request from the obligor, the Town Clerk shall place the request
on the next Town Board agenda, at which time the Town Board shall
refer the matter to the Planning Board for review and recommendation.
The Planning Board, upon receipt of the application, shall schedule
a public hearing to consider this matter and shall place the same
on the next available agenda of the Board's meeting. Said Board, prior
to conducting the hearing, shall request and receive reports from
all interested departments of the Town of Poughkeepsie and the Fire
Department having jurisdiction over the property where appropriate.
C.
The Planning Board shall hold the public hearing.
D.
The Planning Board, subsequent to the public hearing,
shall issue a written report to the Town Board that the project is
complete and that, in the Planning Board's opinion, the security can
be released. If the project is not complete, as determined by the
Planning Board after its public hearing, then said Planning Board
shall so advise the Town.
E.
Thereafter, the Town Board, at a regularly scheduled
meeting, shall review the findings of the Planning Board as to completeness
and finalize the appropriate action concerning the security.
F.
The Town Board, prior to taking any action, may also
refer the matter to the appropriate department heads in the Town of
Poughkeepsie, including the Fire District having jurisdiction over
the site, if it so desires, and may hold a public hearing and thereafter
take whatever action is deemed appropriate. In no event shall there
be a reduction in any obligation for work completed by the obligor
that is less than full completion of all conditions of the approval.
