(a) Developer options. Following the director’s denial of a CAPF, the developer may mitigate the impact of the proposed development through either of the options described in this subsection.
(1) A developer has the option to financially guarantee and construct, in accordance with a public works agreement with the city, any or all of the public facility improvements necessary to support the proposed development and to ensure adequacy of public facilities as set forth in this chapter. A public works agreement must include the mitigation plan approved pursuant to section 4-9(d), 4-10(d), 4-11(d) or 4-12(e).
(2) A developer has the option to pursue a mitigation agreement with the city in accordance with section 4-16(b).
(b) Mitigation agreements. In order to receive a final certificate of adequate public facilities (CAPF), a developer proposing to phase the construction of any public facility improvements necessary to support the proposed development must enter into a mitigation agreement with the city. A mitigation agreement must include the mitigation plan approved pursuant to sections 4-9(d), 4-10(d), 4-11(d), or 4-12(e). A development rights and responsibilities agreement that complies with section 321 of the LMC may serve as a mitigation agreement. A mitigation agreement is not valid unless approved by the mayor and board of aldermen. A mitigation agreement must include a requirement that the developer financially guarantee the completion of the proposed public facility improvements. (Ord. No. G-07-6, § 1, 3-22-07; Ord. No. G-07-19, § 1, 9-6-07)