Site Improvement Bonds are also known as Subdivision Bonds. The housing bust caused the surety industry massive losses. There are a few surety markets that still write these bonds, though carefully.
Site Improvement and Grading bonds under $100,000 are relatively easy to get placed and require little more than good personal credit. Over $100,000 the surety will want to make sure that there is adequate financing, a qualified contractor is scheduled to perform the work, and that the work will commence once the bond is issued. The principal must also have clear title to the land.
Improvement bonds range from simple grading tasks to the construction of streets, sidewalks, and traffic signals. Some municipalities even include landscaping as part of the improvement plan.
The subdivision tax bonds are extremely difficult to get placed because it is a straight financial guarantee that simply defers the property taxes that will become due in the future.