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Planning commission backs updated subdivision-improvement escrow rules
Summary
Far West City Planning Commission recommended that city council adopt amendments to ordinance 16.32.030 to clarify developer improvement assurance options and release percentages, following staff review of cash escrow, bonds and letters of credit.
The Far West City Planning Commission on Thursday recommended that the city council approve amendments to ordinance 16.32.030 governing subdivision improvements, including language clarifying acceptable improvement-completion assurances and release procedures.
Commission members said the update is intended to align the city code with state-authorized forms of assurance — cash escrow, surety bonds and irrevocable letters of credit — and to make explicit how much of an escrow or bond may be released as infrastructure is accepted.
“The improvement-completion assurance is…
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