S 0313 - Perf. Guar. to Streamline Afford. Housing
Tracking Level: High

Sponsor: Wilfred Wells
House Committee: RR
Senate Committee: RulesOS
Last Action: 7/4/2019 - Ch. SL 2019-79

Rewrites current law authorizing local governments to require land developers and builders to provide financial guarantees to ensure completion of development-related improvements such as roads, curb and gutter, and water/wastewater lines. Explicitly states that the amount of the guarantee may be determined by the local government. Exempts stormwater and erosion/sedimentation guarantees from the procedures otherwise applicable to these financial guarantees. Creates new processes to standardize calculation of the guarantees, as well as renewal or extension of guarantees, among other changes. (first edition)