Substitute
Public Hearing: YES ☐ NO ☒ Department: Planning and Sustainability
SUBJECT:
Title
Commission District(s): All Commission Districts
Bond and Escrow Requirements (NO COST TO THE COUNTY)
Body
Information Contact: Luz Borrero/Andrew Baker, AICP
Phone Number: 404-371-2562 / 404-687-7154
PURPOSE:
An ordinance to amend Chapter 14, to modify the Bond and Escrow requirements for subdivision improvements.
NEED/IMPACT:
Public infrastructure improvements in new subdivisions must be timely completed for the benefit of residents and homebuyers and DeKalb County as a whole. To ensure that public improvements in a new subdivision are satisfactorily completed by the developers without expense to DeKalb County’s taxpayers the County must establish appropriate Bond and Escrow requirements. To that effect, all improvements covered in the performance guarantee must be secured by funds to be held in escrow or security bonds. In addition, funds shall be held in escrow guaranteeing maintenance of the subdivision’s streets, drainage facilities, best management practices for water quality, water and sanitary sewer systems, and right-of-way during the twelvemonth maintenance period.
FISCAL IMPACT:
No impact to the County.
RECOMMENDATION:
Recommended Action
Adopt the ordinance and authorize the Chief Executive Officer to execute all necessary documents.