(a) If a Comprehensive Storm Water Management Plan is required by this regulation, soil-disturbing activities shall not be permitted until a cash bond of 5% of total project costs, has been deposited with the City of Aurora Finance Department. This bond shall be posted for the City of Aurora to perform the obligations otherwise to be performed by the owner of the development area as stated in this regulation and to allow all work to be performed as needed in the event the applicant fails to comply with the provisions of this regulation. The storm water bond will be returned, less the City of Aurora's administrative fees as detailed in Chapter 1175
of the City of Aurora Codified Ordinances, when the following three criteria are met:
(1) After 80% of the lots in the project have been completed, 100% of the total project has been permanently stabilized, or three (3) years from the time of permanent stabilization have passed; and,
(2) An As-Built Certification of all SCMs is approved by the City of Aurora Engineer.
(3) An Inspection and Maintenance Plan has been approved by the City of Aurora and an Inspection and Maintenance Agreement has been signed by the developer, the contractor, the City of Aurora, and the private owner or homeowners association who will take long term responsibility for these SCMs, is accepted by the City of Aurora Engineer.
(b) Once these criteria are met, the applicant shall be reimbursed all bond monies that were not used for any part of the project. If all of these criteria are not met after three (3) years of permanent stabilization of the site, the City of Aurora may use the bond monies to fix any outstanding issues with all storm water management structures on the site and the remainder of the bond shall be given to the private lot owner/homeowners association for the purpose of long term maintenance of the project. (Ord. 2022-080. Passed 5-23-22.)