Land Development bond administration program
Bond program benefits for developers and builders
The Land Development Bond Program affords Charlotte Developers and Builders the opportunity to record subdivision plats and begin real estate transactions in the absence of completed required public improvements. The Land Development Bond Program is designed to ensure the completion of required public improvements to City of Charlotte Standards. Please note: When a developer sells lots to another builder, the new owner needs to replace the surety. The original surety will be returned upon receipt of the new surety.
Bond program benefits for homebuyers and citizens
The Program benefits Charlotte homebuyers by ensuring the completion of required subdivision improvements in conformance with Charlotte-Mecklenburg Ordinances and Standards - quality construction of streets, curb, gutter and storm drains; sidewalks to ensure pedestrian safety; and (for projects within the city limits) the subsequent benefits of Street maintenance by the City of Charlotte. Bonds provide the City with financial resources to complete required public improvements in the event of developer/builder default.