Fiscal Note
No appropriation is required.
Title
Amending Section 16.23(9)(c) of the Madison General Ordinances to change the security the City may require as a condition of plat approval.
Body
DRAFTER'S ANALYSIS: This amendment to Sec. 16.23(9), MGO, limits the amount, term, and type of security the City can require as a condition of preliminary and final plat approval. The new limitations are necessitated by a 2014 amendment to the Wisconsin statutes.
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The Common Council of the City of Madison do hereby ordain as follows:
Subdivision (c) entitled “Contract for Public Improvements for Subdivisions” of Subsection (9) entitled “Required Improvements for Subdivisions” of Section 16.23 entitled “Land Subdivision Regulations” of the Madison General Ordinances is amended to read as follows:
“(c) Contract for Public Improvements for Subdivisions.
1. Form of Contract. As a condition of approval of the subdivision, the subdivider shall be required to enter into a contract to provide certain public and private improvements.
2. Surety. The subdivider shall file with said contract, subject to the approval of the City Attorney, security in the form of a bond, a certificate of insurance, an irrevocable letter of credit, or a certified check, or an official check in the an amount equal to that is not more than one hundred twenty percent (120%) of the estimated total of the cost of the public improvements prepared by the City Engineer as suretysecurity to guarantee that the improvements will be completed by the subdivider or her/his contractors as provided by the contract for subdivision improvements. If the improvements will be installed in phases, the amount of the suretysecurity shall be limited to the phase being constructed.
3. Construction Phases and Time of Completion. All subdivision improvements shall be completed within eighteen (18) months from the date of recording of the subd...
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