6.50.60 Improvements Agreement, Dedications, and Warranties

A. Development Improvements Agreement. The Town may require the applicant to deliver a development improvements agreement (DIA), which will specify in detail: the site-specific development plan for the property; the public improvements to be constructed to serve the development; an engineer’s estimates for the cost of required improvements; deadlines for construction and the phasing of development; provisions for a financial assurance and warranty deposit to secure completion of public improvements; required property dedications; and such other terms as may be specifically required for the development. The amount of the financial assurance and warranty deposit shall be equal to one hundred forty percent (140%) and ten percent (10%), respectively, of the approved construction costs, as verified by the Town or its engineer designee. At the election of the Town, the DIA may be recorded in the San Juan County land records and constitutes an encumbrance on the subject real property for the duration of the life of the development authorized under this chapter. The form of any financial assurance shall be as authorized by the Town Attorney. B. Dedications. The Town may require an applicant to dedicate an interest in land to the Town, in fee simple or an easement, where it is necessary for the siting of public infrastructure, such as public streets, sidewalks, pedestrian paths, or underground utilities made necessary by a particular site plan application. Additionally, dedications may be required incident to site plan approval to conform to advisory documents. Property dedications will be confirmed by a separate deed or easement, in a form acceptable to the parties, which shall be executed by the property owner and recorded. All applicants are encouraged to consider access dedications and connectivity with adjacent parcels during the design process. C. Public Improvements Warranted and Delivered Free of Liens. All public improvements installed and dedicated to the Town (e.g., culinary water lines, sewer lines [if applicable], curbing, gutters, roads, hydrants, street lights, and the like) shall be delivered free of liens and encumbrances, and shall be warranted by the applicant to be free of defects in design, materials, and workmanship for a period of one (1) year from the date of acceptance. D. Release of DIA. If the Town determines that the DIA serves no further purpose, as in the case of abandonment or termination of the development contemplated by the site plan approval, then the DIA may be released via a writing duly executed by the Town and recorded in the land records.