Title
An Ordinance amending Articles 4-7 and 4-8 of the Land Subdiv. Regulations to alter the allowable sureties acceptable by the Urban County Government. (Planning Commission). Approval 8-0 [Div. of Planning, Duncan]
Summary
[An Ordinance amending Article 4-7 of the Zoning Ordinance to alter the allowable sureties acceptable by the Urban County Government. Approval 8-0 [Div. of Planning, Duncan]]
Body
WHEREAS, the Lexington-Fayette Urban County Planning Commission has considered a text amendment to Articles 4-7 and 4-8 of the Land Subdiv. Regulations to alter the allowable sureties acceptable by the Urban County Government; and
WHEREAS, the Planning Commission did recommend APPROVAL of the text by a vote of 8-0; and
WHEREAS, the Planning Commission did hold a public hearing on this proposed text amendment on December 8, 2016 and January 12, 2017; and
WHEREAS, this Council agrees with the recommendation of the Planning Commission; and
WHEREAS, the recommendation form of the Planning Commission is attached hereto and incorporated by reference herein.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That Articles 4-7 and 4-8 of the Land Subdiv. Regulations of the Lexington-Fayette Urban County Government are hereby amended as follows:
ARTICLE 4. MAJOR SUBDIV. PLAN PROCEDURE
4-7(d)(9) PERFORMANCE / WARRANTY SURETY - The developer shall post a combination performance and warranty surety, which shall be both to ensure the completion of public improvements, as indicated by the punch list, and for the repair of infrastructure that is found to be defective due to improper workmanship or defective materials.
4-7(d)(9)(a) ACCEPTABLE SURETIES - Acceptable sureties shall generally be an irrevocable letter of credit or insurance bond in favor of the Urban County Government from a bank with offices in Lexington-Fayette County. For sureties less than $5,000, cash, certifi...
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