Portland City Code ch. 14 (Land Use Code)

Citation
Portland City Code ch. 14 (Land Use Code)
Jurisdiction
Portland (municipal)
Source
Official source
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https://content.civicplus.com/api/assets/a5dcd1dc-4117-40b3-b3da-74a56919e14b... ↗

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14.7.4 Phased projects 14.7.7 Acceptable forms for the performance
If a project is reviewed and approved as a phased guarantee
project, the corresponding performance guarantee The performance guarantee, in the amount
may also be phased. A separate performance approved by the Planning Authority, shall be a letter
guarantee shall be posted for each phase. Each of credit, an escrow account with a responsible
phase of such project shall be independent of financial institution, or the deposit to the City of
subsequent phases and shall conform to all Portland Finance Department and shall be in
standards of this article in the event that conformance with the templates and forms made
subsequent phases do not go forward. available by the City. If the performance guarantee
is a deposit to the City, the City shall hold such
14.7.5 Advanced site work funds in a noninterest-bearing account until criteria
On a case-by-case basis, permission for advanced for performance guarantee release have been
site work may be granted by the Planning Authority. satisfied. The performance guarantee shall be in the
Such permission is solely within the discretion of name of the City and shall be approved by the
the Planning Authority. Finance Director as to financial sufficiency and the
Corporation Counsel as to proper form and legal
14.7.6 Alterations to pending subdivisions sufficiency.
Alterations may be made to a site with a pending
subdivision application if: 14.7.8 Reductions of the performance guarantee
A. At minimum, a performance guarantee for the A. Up to three times during the construction of a
proposed site alterations has been posted and project, upon request of the subdivider, a
final plans have been submitted to the Planning performance guarantee may be reduced by the
Authority. value