(a) If a stormwater pollution prevention plan or abbreviated stormwater pollution prevention plan is required by this regulation, soil-disturbing activities shall not be permitted until a cash bond has been deposited with the Community Finance Department. The bond amount shall be a one thousand five hundred dollar ($1,500) minimum, and an additional one thousand five hundred dollars ($1,500) paid for each subsequent acre or fraction thereof. The bond will be used for the Village 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 that the applicant fails to comply with the provisions of this regulation. The cash bond shall be returned, less Village administrative fees as detailed in this chapter, after all work required by this regulation has been completed and final stabilization has been reached, all as determined by the Village Engineer.
(b) No project subject to this regulation shall commence without a SWP3 or abbreviated SWP3 approved by the Village Engineer.
(c) If a comprehensive stormwater management plan is required by this regulation, soil-disturbing activities shall not be permitted until a cash bond of five percent of the total project cost, has been deposited with the Village Finance Department. This bond shall be posted for the Village 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 that the applicant fails to comply with the provisions of this regulation. The stormwater bond will be returned, less Village administrative fees as detailed in this chapter, when the following three criteria are met:
(1) After eighty percent of the lots of the project have been complete or 100 percent of the total project has been permanently stabilized or two years from the time of permanent stabilization have passed.
(2) An as built inspection of all water quality practices is conducted by the Village Engineer and a final letter of acceptance indicating the practices have been properly constructed in accordance with the approved plan.
(3) An inspection and maintenance agreement signed by the developer, the contractor, the Village, and the private owner or homeowners association who will take long-term responsibility for these SCMs, is accepted by the Village Engineer.
(d) 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 years of permanent stabilization of the site, the Village may use the bond monies to fix any outstanding issues with all stormwater 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. 63-2017. Passed 12-5-17.)