§ 50-15. Improvements.

(a)

Before final approval of any plat or, where applicable, certified survey map located within the jurisdictional limits specified in this chapter, the subdivider shall install street and utility improvements as hereinafter provided. In the alternative, if completion and acceptance of such improvements is not anticipated by the time that the final plat or certified survey map is submitted for approval, the subdivider shall, before the recording of the plat or certified survey map, enter into a subdivider's agreement with the village agreeing to install the required improvements, and shall file with such agreement a bond or letter of credit with good and sufficient surety meeting the approval of the village attorney or a certified check in an amount based on the estimated cost of the improvements. Said estimate shall be made by the village board, after review and recommendation by the village engineer/DPW director, as a guarantee that such improvements will be completed by the subdivider or his subcontractors not later than the dates set forth in the agreement and as a further guarantee that all obligations to subcontractors for work on the development are satisfied. The amount of security provided under this chapter shall be as follows:

(1)

One hundred fifteen percent of the estimated cost of the improvements within one year;

(2)

One hundred twenty-five percent of the estimated cost where the agreement calls for completion between one and two years; and

(3)

One hundred fifty percent of the estimated cost where the agreement calls for completion between two and three years.

(b)

In addition:

(1)

Review of contract. Contracts and contract specifications for the construction of street and utility improvements within dedicated public street rights-of-way, as well as the contractors and subcontractors providing such work, shall be subject to review by the plan commission and approval by the village board after receipt of a recommendation from the village engineer/DPW director and the village attorney.

(2)

Letter in lieu of contract and bond. Governmental units to which these bond and contract provisions apply may file, in lieu of such bond and contract, a letter from officers authorized to act on their behalf agreeing to comply with the provisions of this section.

(3)

Plats and certified survey maps outside the corporate limits. Before final approval by the village of any plat or certified survey map located outside the corporate limits of the village, but within the extraterritorial plat approval jurisdiction of the village, the subdivider shall give evidence that he or she has complied with all land division requirements of the town in which the land being divided is located.

(4)

Survey monuments. Before final approval of any plat within the village, the subdivider shall cause survey monuments to be installed as required by and placed in accordance with the requirements of Wis. Stats. § 236.15, and as may be required by the village engineer/DPW director. The village engineer/DPW director may waive the placing of monuments, as provided under Wis. Stats. § 236.15(1)(h), for a reasonable time, not to exceed one year on the condition that the subdivider provide a letter of credit, certified check, or surety bond equal to the estimated cost of installing the monuments to ensure the placing of such monuments within the required time limits established by statute. Additional time may be granted upon show of cause.

(Ord. No. 802-13, § 1(Att.), 4-22-2013)