[HISTORY: Adopted by the Board of Trustees of the Village of Montebello 12-14-1994 by L.L. No. 3-1994. Amendments noted where applicable.]
[Amended 6-22-2005 by L.L. No. 4-2005]
The procedures for approving subdivision of land and site development plans within the Village of Montebello are contained within the Village Zoning Chapter, as amended from time to time, the respective regulations, each as revised from time to time, §§ 7-728 and 7-730 of the Village Law of the State of New York, as amended, § 10 of the Municipal Home Rule Law of the State of New York, regarding a judgment about foreseeable default and regarding securing the site in the event of incomplete construction, and other statutes. As a consequence of the foregoing revisions and amendments, a local law governing the subject hereof became necessary, and the substance hereof was discussed at a public meeting of the Planning Board.
As an alternative to the installation of infrastructure and improvements prior to the signature of the Planning Board Chairman after Planning Board approval of a site plan or subdivision, as required per the references in § 108-1 of this chapter, security to cover the full cost of same, or to make the site or partial construction secure in the judgment of the Village Engineer, in the event that the project is not completed, as estimated by the Planning Board, or the Village department or Village Engineer as designated by the Planning Board to make such estimate, shall be furnished to the Village by the owner. In no event shall the amount of the security be less than 120% of the estimated cost of such improvements as determined by the Village Engineer.
[Amended 4-27-2011 by L.L. No. 2-2011]
In the event that the owner shall be authorized to file an approved plat in sections, as provided by Village Law § 7-728, Subdivision 7(b), approval of the plat may be granted upon the installation of the required improvements in the section of the plat filed in the office of the County Clerk or register, or the furnishing of security covering the cost of such improvements. However, the owner shall not be authorized to begin construction of buildings in any other section until so proceeding with respect to that section.
Pursuant to a written security agreement in a form as approved by the Village Board and Village Attorney, security, which shall be delivered to the Village, or shall be held in a Village account at a bank or trust company, shall be limited to the following:
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;
Letter of credit.
An irrevocable letter of credit from a bank located and authorized to do business in this state.
Any form of letter of credit accepted by the Village Attorney as security pursuant to this chapter shall include the following provisions in addition to such other provisions as the Village Attorney shall deem appropriate in the circumstances:
[Added 3-20-2013 by L.L. No. 1-2013]
The name of the applicant as identified in the letter of credit shall be the same as, or include, the name of the property owner/applicant as shown in Village records;
The letter of credit shall adequately identify the work covered by the security, with reference to external documents such as the cost improvement estimate, approved plans, and/or other appropriate materials;
The letter of credit shall be automatically renewed, year after year, without action being taken by any person;
The letter of credit shall provide that, in the event of revocation by the issuing bank, such revocation must be on at least 45 days’ written notice to the Village (as measured from the date of receipt of such notice), which notice shall be delivered to both the Village Clerk at Village Hall and to the Village Attorney at his or her private office. Such notice shall be delivered by a method that provides proof of receipt by the Village Clerk and the Village Attorney.
Upon receipt of a notice of revocation as set forth in Subsection B(2)(d) above, the Village Attorney shall immediately cause the Village Clerk to draw the entire outstanding amount then-covered by the letter of credit which is to be revoked. If, pursuant to the terms of such notice of revocation, a lapse of time will ensue between the giving of such notice and the time when a draw may be made, then such draw shall be made at the earliest opportunity pursuant to such notice. Neither the Village Attorney nor the Village Clerk shall require additional or case-by-case approval from the Board of Trustees or any other officer of the Village to so draw against such a letter of credit in such circumstances.
[Added 3-20-2013 by L.L. No. 1-2013]
[Amended 3-20-2013 by L.L. No. 1-2013]
Any such security agreement shall run for a term to be fixed by the Planning Board, but in no case for a longer term than three years; provided, however, that the term of such security agreement may be extended by the Planning Board with consent of the parties thereto. If the Planning Board shall decide at any time during the term of the security agreement that the extent of building development that has taken place in the subdivision is not sufficient to warrant all the improvements covered by such security, or that the required improvements have been installed as provided in this section and by the Planning Board in sufficient amount to warrant reduction in the amount of said security, and upon approval by the Village Board of Trustees, the Planning Board may modify its requirements for any or all such improvements, and the amount of such security shall thereupon be reduced by an appropriate amount so that the new amount will cover the cost in full of the amended list of improvements required by the Planning Board. If, upon a report to the Planning Board by the Village Engineer that the required improvements have not been completed, nor are likely to be completed within the then-current term of the security, then the Planning Board may extend the term of the security for an additional period of not more than three years. Alternatively, if the Planning Board finds that the required improvements are not likely to be completed within the initial three-year term, the Planning Board may require that such security not have a term of years but be continually renewed until such time as the Village Engineer has certified to the Planning Board that all required improvements have been completed, at which time the security obligation shall become void.
In the event that any required improvements have not been installed as provided in this section within the term of such security agreement, or, foreseeably, will not be in the judgment of the Village Board made upon prior notice to the owner who may be heard on the subject, the Village Board of Trustees may thereupon declare the said security agreement to be in default and collect the sum remaining payable thereunder; and, upon the receipt of the proceeds thereof, the Village shall install such improvements as are covered by such security and as commensurate with the extent of building development that has taken place in the subdivision but not exceeding in cost the amount of such proceeds.