(A) Required guarantees. Persons required to conduct forest improvements and maintenance thereof under this chapter shall furnish to the Department for its approval a cost estimate (plus 15% contingency) for the completion of the required improvements under the Forest Improvement and Protection Agreement (FIPA). If the cost estimate equals or exceeds $1,000, the applicant shall provide to the county a financial guarantee in the form of a cash escrow, an irrevocable letter of credit, or other surety approved by the County Executive and the County Attorney’s office. The guarantee shall be retained by the county to assure that the forest improvements under the FIPA are conducted and maintained in accordance with this chapter and the approved final forest conservation plan.
(B) Return of guarantees.
(1) To be eligible for partial or full return or release of financial guarantees, a substantial amount of living seedlings/trees must exist in forest easement areas for the duration of the FIPA maintenance period. The determination of "substantial amount of living seedlings/trees" shall be made by Department inspectors, with consideration of the stocking and survival rates prescribed in § 1-21-43(D) and (E). The seedlings/trees must meet or exceed the standards of the technical manual, or this chapter, whichever applies.
(2) For development projects requiring a 2-year FIPA (per § 1-21-10) the following provisions shall apply:
(a) For projects requiring only protective fencing and/or signage, but no forestation; and for which the required improvements have been erected by the applicant and approved by Department inspectors, 50% of the financial guarantee may be returned or released upon approval by the Department inspectors. If the protective features remain in good repair for the duration of the forest improvements and protection agreement (FIPA), the remaining 50% shall be returned or released when the applicant has fulfilled all of the requirements of the FIPA.
(b) For projects requiring 1" or 2" caliper tree planting, 50% of the financial guarantee may be returned or released after 1 complete growing season if the conditions of § 1-21-25(B)(1) are met. If after 2 complete growing seasons the conditions of § 1-21-25(B)(1) are met, the balance of the guarantee shall be returned.
(3) For development projects requiring a 3-year FIPA (per § 1-21-10):
(a) If after 1 complete growing season the required forestation or regeneration area meets the conditions of § 1-21-25(B)(1), 25% of the amount of any guarantee that has been posted shall be returned or released;
(b) If after 2 complete growing seasons the forestation or regeneration area meets the conditions of § 1-21-25(B)(1), an additional 25% of the guarantee shall be returned or released;
(c) If after 3 complete growing seasons the forestation or regeneration area meets the conditions of § 1-21-25(B)(1) the balance of the guarantee shall be returned or released.
(4) For projects containing existing forest retention, forestation, or a combination of retention and forestation, 50% of the financial guarantee requirement for tree planting, fencing, and signage may be waived if the following conditions are met prior to the submittal of the required protective agreements outlined in § 1-21-10;
(a) Tree planting, fencing, and signage is installed in accordance with the approved forest conservation plan, and
(b) The installation of trees, fencing, and signage is inspected and approved by the Department inspectors, and
(c) A copy of the inspection report is supplied with the submittal of the protective agreements outlined in § 1-21-10.
(5) For projects utilizing the 50% reduction outlined in subsection (4) above;
(a) For development projects requiring a 2-year FIPA (per § 1-21-10), the financial guarantee shall be returned or released when the applicant has fulfilled all of the requirements of the FIPA. Partial releases during the FIPA period are not permitted.
(b) For development projects requiring a 3-year FIPA (per § 1-21-10) the financial guarantee shall be returned or released when the applicant has fulfilled all of the requirements of the FIPA. Partial releases during the FIPA period are not permitted.
(Ord. 01-20-294, 9-25-2001; Ord. 07-25-465, 7-19-2007; Ord. 11-19-585, 7-28-2011; Ord. 14-23-678, 11-13-2014)