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Utility Improvements Credit
Normally the plat is recorded prior to the Utility Final Inspection. Even if all Utility improvements are installed and tested, the maximum credit towards posting a Performance Bond is 85% (i.e. 15% of the Total Utilities Cost is required as Bond).
In order to obtain 100% credit for Utilities installed and post 0% for a Utility Performance Bond, the following sequence can be followed:
- The plat has to be signed by Directors of Development & Permits and Planning and ready for recordation, i.e. plat fees paid, subdivision agreement and bond executed, etc.
- Utility Final Inspection.
- Plat is recorded.
- Utilities are activated.