(A) Security within subdivisions or planned unit developments. A letter of credit, cash or escrow will be provided by the applicant, in favor of the city, in an amount of 150% of the tree replacement estimate. If the project requires securities for other improvements, this amount will be held in the same security. If a subdivision or planned unit development does not require replacement, a $10,000 security will be held until certification of the forestry specialist has been submitted indicating the tree preservation plans have been followed.
(B) Security within subdivisions or planned unit developments for new home construction. Security, in the form of a letter of credit, cash or escrow will be provided by the applicant, in favor of the city, in the amount of $1,000 (charged with the building permit fees) will be held until the replacement trees have been planted and successfully survived for a period of one year from the date of planting. If no replacement trees are anticipated, the security will be reduced to $500 and be remitted to the applicant upon successful completion of the final occupancy inspection which has verified the tree preservation plan has been followed. The deposits are not deemed to be in lieu of tree replacement.
(C) Security for new construction, excavation and fill permits or other land alteration activities, not within a subdivision or planned unit development. Security, in the form of a letter of credit, cash or escrow will be provided by the applicant, in favor of the city, in the amount of $1,000 (charged with the building permit fees) will be held until the replacement trees have been planted. If no trees are planned to be replaced, but significant trees are located on the construction area, the security will be reduced to $300. At the point of final inspection for new construction or an inspection after the permit work has been completed, and has complied with the tree preservation plans, the deposits will be returned to the applicant.
(Prior Code, § 10-124)