Commission backs code change to broaden subdivision improvement guarantees
Planning commissioners recommended that City Council adopt Code Amendment 11‑8‑3 to allow cash escrow, a city-held cash bond, or a licensed surety bond as acceptable guarantees for subdivision improvements, aiming to strengthen the city's assurance of completion.
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The Planning Commission recommended approval of a code change (11‑8‑3) to expand acceptable forms of subdivision improvement completion assurance. Staff said state law requires the city allow multiple forms of guarantee; the amendment would allow: a cash escrow account at a federally insured financial institution, a cash bond held by the city, or a surety bond from a licensed surety provider in Utah.
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