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A fundamental purpose of subdivision controls is to ensure that adequate infrastructure improvements will be provided to service anticipated development. This requires substantial cooperation between the developer and the planning commission in providing for the eventual construction of roadways, water and sewer systems and other public improvements within or near a subdivision. [Note: For an overview of subdivision regulations, see Martin Leitner & Elizabeth Garvin's "An Introduction to Subdivision Regulations"].
The principal mechanism for protecting public and private interests in this process is the performance guarantee. This article explores why performance guarantees are necessary, what forms they typically assume, and how they operate. ...
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