Chapter 14.90
PERFORMANCE ASSURANCE AND GUARANTEE
Sections:
14.90.020 Performance assurance.
14.90.010 Purpose.
The purpose of this chapter is to allow individuals developing property to post a performance assurance device in a sufficient amount to guarantee and warranty the construction of required improvements, and protect public property. (Ord. TLS 97-10-71B Exh. B (part))
14.90.020 Performance assurance.
All improvements shall be fully completed prior to the final approval of a development permit, land divisions, issuance of a certificate of occupancy or actual occupancy, as directed by applicable codes or regulations, unless an alternative performance assurance device, a contractual agreement, an agreement and partial funding for a local improvement district (LID), or bond between the developer and the county has been executed and approved in accordance with this chapter. (Ord. TLS 97-10-71B Exh. B (part))
14.90.030 Criteria.
A. The performance assurance device shall be approved by the administrator, the county engineer and/or the director as appropriate and shall be in a form acceptable to the Douglas County prosecuting attorney.
B. The performance assurance device shall be for a period of not more than one year for each phase of the development, unless a time schedule for the performance assurance device is approved by the review authority. The time period may be extended depending on the type of project and phasing schedule.
C. If a performance assurance device or evidence of a similar device is required under subsection A or B of this section, the review authority shall determine the specific type of assurance device required in order to insure completion of the required conditions of approval. The value of the device shall equal at least one hundred twenty-five percent of the estimated cost of the required improvements and shall be utilized by the county to perform any necessary work, to reimburse the county for performing any necessary work, and to reimburse the county for documented administrative costs associated with action on the device. If costs incurred by the county exceed the amount provided by the assurance device, the property owner shall reimburse the county in full, or the county may file a lien against the subject property for the amount of any deficit.
D. If the performance device or evidence of a similar device is required the property owner shall provide the county with an irrevocable notarized agreement granting the county and its agents the right to enter the property and perform any required work remaining uncompleted at the expiration of the completion date(s) identified in the assurance device.
E. Upon completion of the required work by the property owner and approval by the county, at or prior to expiration of the completion date(s) identified in the assurance device, the county shall promptly release the device or evidence thereof.
F. If bonds or securities are to be used, the review authority shall determine the specific type of assurance device required. The value of this device shall equal at least one hundred twenty-five percent of the estimated cost of the improvement to be performed. If costs incurred by the county exceed the amount provided by the assurance device, the property owner shall reimburse the county in full, or the county may file a lien against the property for the excess amount. (Ord. TLS 97-10-71B Exh. B (part))