Wake Forest Unified Development Ordinance - July 2022

Subdivision & Infrastructure Standards 6.12 Improvement Guarantees & Performance Securities


This increase is determined by comparing the V/C ratio under existing development conditions and proposed development conditions. For the purposes of this comparison, all unsignalized intersections are analyzed as signalized intersections.

6.11.6. Payments-In-Lieu of Improvements

The town may, at its discretion, accept either mitigation measures to be completed by the developer or a fee paid to the town in lieu of mitigation. The fee shall be equal to the costs of the required mitigation measures, as determined by the Administrator. A combination of mitigation measures and payments-in-lieu of dedication may be permitted. Payments-in-lieu of dedication shall be approved as part of the Subdivision or Site Master Plan.

6.12. Improvement Guarantees & Performance Securities

6.12.1. Improvement Guarantees A.

Applicability: In lieu of construction of the permanent improvements required by this ordinance, the developer shall guarantee that such improvements will be carried out according to the Town of Wake Forest’s specifications at his/her expense. At minimum, improvements such as public utilities and initial surface of street right-of- way shall be installed and inspected by the Administrator for compliance. The remaining improvements shall be built or bonded prior to the recording of the final plat. B. Amount of Improvement Guarantees: Such guarantees shall be in an amount of not less than 125% of the estimated cost of the construction of the required improvements. The amount of guarantee shall be approved by the Administrator based on a Professional Engineers certified cost estimate and shall be provided in the manner outlined in Section 6.12.3. C. Release of Improvement Guarantees: The Administrator shall authorize the release of all or a portion of any guarantee posted as the improvements are completed. Such funds shall be released within 32 days after submittal of an improvements completion certification from a Professional Engineer and approval of applicable improvements by the Administrator. D. Warranty Against Defects 1. Upon completion of construction of new streets, stormwater controls or other required utilities, the developer shall request a warranty inspection. Once all the improvements are deemed acceptable by the Administrator and pass the warranty inspection, the developer shall submit the following to the Administrator: a. A set of acceptable as-built drawings, b. A written warranty against defects which shall guarantee the material and workmanship of required improvements for a period of not less than one year from the date of such acceptance. c. A financial guarantee payable to the town equal to at least 25% of the cost of the installation of such improvements as determined by the Administrator. Such financial guarantee shall be in a form as provided for in Section 6.12.3. 2. Upon approval of these materials and acceptance of the improvements by the town, a 1-year warranty period shall commence. During the 1-year warranty period, the developer shall repair any latent defects that occur. For the purposes of this section, the ter m “defects” refers to any condition in publicly dedicated facilities, utilities or streets that requires the town to make repairs to such improvements over and above the normal amount of maintenance that they would require. If such defects appear, the warranty may be enforced regardless

Town of Wake Forest Unified Development Ordinance – July 19, 2022


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