11.20 SECURITY FOR COMPLETION

In the event that buildings on the property are completed before other required on-site improvements are completed, and the site improvements cannot be completed simultaneously with the completion of the building due to weather or other conditions beyond the control of the developer (excluding financial inability to perform); or as it relates to subdivisions, in order to record a final plat prior to completion of off-site improvements, the City may grant final plat approval or issue the certificate of occupancy for all or part of the project prior to the completion of site improvements provided that all of the following conditions are met: A. The building or buildings, or portions thereof, on the property to be platted or occupied have been constructed in accordance with the approved plans for those buildings, and are in full compliance with applicable building and fire codes, and are completed to the extent that only exterior site improvement work remains unfinished and the building inspector determines that occupancy of the buildings, or portions thereof, prior to completion of required on and off site improvements, is safe, and that access for emergency vehicles is adequate with the site improvements unfinished. B. In regard to subdivisions, the building inspector approves all final construction plans, a development agreement has been approved by the City Attorney and executed by the owner/developer and; the developer posts adequate security for the benefit of Fountain Final copy approved by Fountain Green City Council February 18, 2008. Minor changes to 11.3E April 19, 2012. Amended 11.6A and 11.19/20 October 18, 2012. Amended 11.6A September 27, 2018, Subsection 11.31 added October 10, 2019. Subsection 11.32 added July 21, 2022. Added subsection 11.6 A and corrected 11.6 C January 18, 2024. Add section 11.7 new B August 15, 2024. Section 11.33 added June 19, 2025. Green City and the public to insure completion of the site improvements in full compliance with the approved plans within two years from the date of plat approval (if required) or one year from the date of issuance of the certificate of occupancy, whichever occurs first. 11.21 AMOUNT OF SECURITY The amount of the security to be posted by the developer shall be determined by the City Council and shall be equal to 100% of the amount reasonably estimated by the City Engineering Consultant as being necessary to complete remaining on and off site improvements as shown on the approved plans. In the event that the developer disputes the cost estimate of the City Engineering Consultant, the developer may prove lower construction cost by providing binding contracts between the developer and contractor or subcontractor appropriate to perform the required work at a stated, fixed price. A full performance bond, insuring performance by the subcontractor or contractor, must support these contracts. Bid proposals are not satisfactory for this purpose. If the contracts submitted are acceptable in form, the amount of security required shall be 100% of the total contract price of all such contracts submitted, plus the estimated reasonable cost of performing work not covered by the contracts. Specifications in such contracts shall be sufficiently clear to identify the work called for under the contract. The amount of security required for single-family homes shall be the reasonable estimated cost of construction of any retainage and drainage and the estimated cost of landscaping to the extent necessary to hold soil in place.