(A) Persons installing stormwater storage facilities shall be required to pay a specified amount to the Municipal Stormwater Maintenance Fund to help defray costs of periodic inspections and maintenance expenses; the amount of the deposit shall be determined as follows.
(1) If the storage facility is to be privately owned and maintained, the deposit shall cover the cost of periodic inspections performed by the municipality for a period of ten years, as estimated by the Municipal Engineer. After that period of time, inspections will be performed at the expense of the municipality.
(2) If the storage facility is to be owned and maintained by the municipality, the deposit shall cover the estimated costs for maintenance and inspections for ten years. The Municipal Engineer will establish the estimated costs utilizing information submitted by the applicant.
(3) The amount of the deposit to the fund shall be converted to present worth of the annual series values. The Municipal Engineer shall determine the present worth equivalents which shall be subject to the approval of the governing body.
(B) If a storage facility is proposed that also serves as a recreation facility (e.g., ballfield, lake), the municipality may reduce or waive the amount of the Maintenance Fund deposit based upon the value of the land for public recreation purposes.
(C) If in the future a storage facility (whether publicly or privately owned) is eliminated due to the installation of storm sewers or other storage facility, the unused portion of the Maintenance Fund deposit will be applied to the cost of abandoning the facility and connecting to the storm sewer system or other facility.
(D) Any amount of the deposit remaining after the costs of abandonment are paid will be returned to the depositor.
(Ord. 4-2011, passed 10-8-2011)