Subdivision Escrow Tracking
The Subdivision Escrow application is a PC-based system for maintaining a City’s subdivision escrow information. It is designed to track escrow amounts, documents, and other vital information. Unlike the Works Management Application, which tracks individual housing permits, subdivision Escrow is designed to track the building of entire subdivisions, prior to individual housing units.
Benefits and Features
Account Management: Create, track and control escrow data, such as agreement types, subdivision types, developers, financial institutions, beneficiaries and sewer districts, all in one place.
Dates: Manage deadlines in each escrow account with fields like Preliminary Plat Approval, Council Approval, Default Dates and Two Month Warning Dates. Extensions and letters are also easily reviewed and managed.
Money Disbursement: Original money allotted, current account balance and settlement amounts can be tracked for all phases of the subdivision process and released as a percentage of work completed. Customizable fields selected by your agency can be assigned for each portion of a project. Clients can separately track phases of roads, sewers, sidewalks and signage. Grading, landscaping and erosion control can also be tracked.
Checks and Balance: Clients with treasurer access have access to functionality for disbursement types, amounts and letters issued.
Inspector Approval and Release: Once a development is underway, inspectors will check on the progress of the development. They can then approve the release of varying percentages of escrow money from designated accounts. The system can be used to perform these releases against the accounts and print release documentation. All transactions involving escrow accounts are logged, and an escrow log provides audit capability.
Customization: Administrators can add and rename Escrow Types; add, activate and inactivate planners and other application users; they can also add Fire Districts, Sewer Districts, Subdivision Types, Escrow Agreement Types, and other miscellaneous items. Administrators also have the ability to activate and inactivate subdivision escrows.
User Control: Security levels include: View Only, User, Administrator and Treasurer.