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18.50.120. Private subdivision; Development guarantee
Security for the construction of a private subdivision or planned residential unit development (PRUD) shall be in the form of a cash payment in escrow equal to one hundred and ten percent (110%) of all public and private improvements. No funds shall be disbursed from the escrow without the written consent of the City. All estimated costs shall be approved by the City Engineer. Where separate lots are not being sold, an escrow equal to one hundred and ten percent (110%) of the public improvements only, will be required.
Ord. No.97-35, Recodified, 6/19/1997
Ord. No. 03-17, Amended, 5/1/2003
Ord. No. 1020, Amended, 5/5/1994