(A) The earthwork regulation permit holder may elect to record the subdivision record plat prior to the completion of the work required under the plan and permit.
(B) A bond shall be required and posted by the earthwork regulation permit holder, for the benefit of the city, for the purpose of assuring that the work shall be completed in accordance with the approved plans and specifications of this permit.
(C) The permit holder shall provide an estimated cost of completion established by the designer. The Enforcing Official shall establish a bond amount equal to 110% of the designer's estimated cost of completion of the portion of the project subject to this chapter, if said estimate is deemed reasonable by the Enforcing Official, said estimate being based on standard construction costs within the industry. In the alternative, the Enforcing Official can request an irrevocable letter of credit from a reputable financial institution for 110% of the designer's estimated cost of completion of the portion of the project subject to this chapter.
(D) The Enforcing Official shall release the permit holder's bond when all work under the plan and permit has been satisfactorily completed and upon receiving a written summary report or letter from the designer that all work under the permit is completed in accordance with the specifications.
(E) In the event the earthwork regulation permit holder is also under a building permit, all requirements under the site plans and permit shall be certified as complete by designer prior to the issuance of a permanent Certificate of Occupancy. The bonding of uncompleted work in this situation will not be permitted.
(F) Where earthwork is left abandoned and/or a hazard is created, and no bond is in effect, the Enforcing Official shall proceed to mitigate the situation as provided in § 153.63(C).
(Ord. 2005-2, passed 3-21-05; Am. Ord. 2006-01, passed 3-20-06)