Roadway Performance Guarantee Requirements Motion authorizing Public Works to establish a “per lot” topping fee to be collected by the City of Marietta at the Certificate of Occupancy point for each subdivision lot. This topping fee would be based upon125% of the current estimated cost of the topping coat for the subdivision roads, balanced across the number of undeveloped lots. The City of Marietta would establish and maintain the escrow account. When the amount in the account for the subdivision reaches 110% of the current estimated pavement cost, the City of Marietta could either have the developer use the funds to pave the roadways, or the paving could be done by the City of Marietta. Public Works may at any time require an updated quote for topcoat and adjust the per lot topping fee to address the difference between current forms of guarantee, including escrow, and 125% of the quote. Any excess funds in the escrow account after the roadways have been topped could be returned to the developer. Public Works will also remove “line of credit” as an acceptable method of guarantee for roadway performance. Where possible, Public Works will require topping to occur at time of 50% completion of the lots.

Committee

CITY COUNCIL

Introduced

November 10, 2011

Passed

December 14, 2011