If Public Improvements are required for any development application, the property owner and/or developer of the property is required to enter into a Public Improvement Agreement by completing the approved form provided by the City.
The Public Improvement Agreement identifies the public and private improvements required to be constructed, and provides assurances that the necessary Public Improvements will be constructed to the City’s established standards in a timely manner and subject to applicable warranty periods. Except as otherwise agreed by the City, all mortgagees are required to subordinate their liens and interest in the property to the covenants and the restrictions of the Public Improvement Agreement.
The Public Improvement Agreement may, if approved by the City, provide that the installation, construction, or reconstruction of Public Improvements be in phases. Any phase of development approved through the Public Improvement Agreement must be an integrated, self-contained project consisting of all Public Improvements necessary to serve the portion of property to be developed as part of such phase. The City may impose reasonable conditions on the phasing of development in order to preserve the integrity of the development or the public health, safety and welfare of the community and adjacent properties.
The Public Improvement Agreement also requires the Developer to submit financial security for the required Public Improvements. Financial security shall be provided to the City prior to and as a condition of the issuance of a development permit.