Sec. 26-313. - Agreements and security.

A subdivider may enter into an agreement with the City, provided the performance of the agreement is guaranteed by security as indicated in the Subdivision Map Act, in lieu of constructing required improvements prior to approval of final or parcel maps. Deferral of improvements on parcel maps shall include a covenant and a note on the final parcel map that includes an estimated construction cost. The agreement shall be on the form provided by the City Engineer or such other form as is approved by the City Attorney. The period in which the construction is to be completed is one (1) year from the date of execution of said agreement or prior to occupancy of any structure in the subdivision, whichever is sooner, or for such other period of time found to be practical and approved by the City Engineer. The completion time hereinbefore mentioned may be extended by the City Engineer as necessary to ensure orderly and satisfactory completion of required improvements. In no event may said completion be extended for more than four (4) years beyond the initial completion date. The City Engineer is authorized to execute such agreements on behalf of the City.

(Ord. No. 2519, § 5(Exh. A), 2-20-24)