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1. At its sole discretion, the city may as a condition of approval, require the owner and <br />the developer of the proposed open space PUD to execute a development agreement <br />which may include, but not be limited to, all requirements of the open space PUD <br />final plan. <br />2. The development agreement may require the developers to provide an irrevocable <br />letter of credit in favor of the city. The letter of credit shall be provided by a <br />financial institution licensed in the state and acceptable to the city. The city may <br />require that certain provisions and conditions of the development agreement be <br />stated in the letter of credit. The letter of credit shall be in an amount sufficient to <br />ensure the provision or development of improvement called for by the development <br />agreement. <br />h. As directed by the city, documents related to the PUD shall be recorded against the property. <br />4) Time limit. <br />a. A planned unit development shall be validated by the applicant through the commencement <br />of construction or establishment of the authorized uses, subject to the permit requirements <br />of this Code, in support of the planned unit development within one year of the date of open <br />space PUD final plan approval by the city council. Failure to meet this deadline shall render <br />the open space PUD final plan approval void. The city council may approve extensions for <br />validation of the PUD of up to one year if requested in writing by the applicant; extension <br />requests shall be submitted to the director of planning community development director and <br />shall identify the reasons why the extension is necessary along with an anticipated timeline <br />for validation of the planned unit development. <br />b. An application to reinstate an open space PUD that was voided for not meeting the required <br />time limit shall be administered in the same manner as a new open space PUD beginning at <br />open space PUD preliminary plan. <br />105.12.1090 Open Space PUD Amendments <br />Approved open space PUDs may be amended from time to time as a result of unforeseen circumstances, <br />overlooked opportunities, or requests from a developer or neighborhood. At such a time, the applicant shall make <br />an application to the city for an open space PUD amendment. <br />a) Amendments to existing open space PUD overlay districts. Amendments to an approved open space PUD <br />overlay district shall be processed as one of the following: <br />1) Administrative amendment. The director of planning community development director may <br />administratively approve minor changes to an approved open space PUD if such changes are <br />required by engineering or other circumstances, provided the changes conform to the approved <br />overlay district intent and are consistent with all requirements of the open space PUD ordinance. <br />Under no circumstances shall an administrative amendment allow additional lots, or changes to <br />designated uses established as part of the PUD. An administrative amendment shall be <br />memorialized via letter signed by the planning community development director. <br />2) Ordinance amendment. A PUD change requiring a text update to the adopted open space PUD <br />overlay district language shall be administered in accordance with adopted regulations for zoning <br />code changes in LEC 105.12.280. Ordinance amendments shall be limited to changes that are <br />deemed by the director of planning community development director to be consistent with the <br />intent of the original open space PUD approval, but are technically necessary due to construction <br />of the adopted overlay district language. <br />3) PUD amendment. Any change not qualifying for an administrative amendment or an ordinance <br />amendment shall require an open space PUD amendment. An application to amend an open space <br />PUD shall be administered in the same manner as that required for a new PUD beginning at open <br />space PUD preliminary plan. <br />b) Pre-existing OP developments.