17.55.080 Improvements security and restoration bond.
A. The City may require, as a condition for issuance of any hillside development permit or grading permit, that the applicant post adequate security to assure compliance with all permit conditions, including restoration, soil stabilization, landscaping, drainage improvements, or any other permit condition. Any security required by this section shall be an amount, as determined in the discretion of city staff, reasonably calculated to cover anticipated costs for improvements required under the permit and may take the form of the following:
1. A surety bond or letter of credit naming the City of Moab as beneficiary or payee;
2. A certified or cashier’s check payable to the City of Moab and held in an escrow account;
3. An improvements agreement specifying all improvements and permit conditions shall be completed prior to issuance of any certificate of occupancy or building permit for individual lots.
B. In the event the applicant fails to complete development in accordance with the permit conditions within one year from the issuance of the permit the City, upon delivering written notice to the applicant, may proceed to redeem any funds payable to it under this section for the purposes of obtaining completion of the required improvements.
1. For good cause shown, the City Council, after receiving the recommendation of the Planning Commission, may grant such additional time extension as may be necessary to allow compliance by the applicant with all restoration or improvement conditions of the permit.
C. Where a project is to be completed in phases according to a phasing plan, the applicant can secure a proportionate partial release of any improvements security upon certification by the Zoning Administrator that all permit conditions have been complied with as to that particular phase. (Ord. 97-12 (part), 1997: Ord. 96-18 § 2 (part), 1996)