(A) Applicants proposing subdivision plats, site condominiums, private road construction projects, or other developments identified by the agent with a high potential for storm water management problems may be required to post a cash escrow, letter of credit, or other acceptable form of performance security in an amount sufficient to assure the installation and completion of the storm water management plan.
(B) Letters of credit shall extend for a minimum of one year with the option of renewal. Money held in escrow, cash deposits, and/or certified checks will be returned to the applicant when the site is completely stabilized to meet requirements set forth by the agent, and as-built plans of the site, sealed by a State of Michigan licensed professional engineer, are submitted to the agent.
(Ord. 810, passed 11-18-2019)