(a) In order to ensure the full and faithful completion of all land development activities related to compliance with all conditions set forth by the Municipality of Grafton in its approval of the stormwater pollution prevention plan, the Municipality of Grafton may require the site owner and/or applicant to provide, prior to construction, a performance bond, cash escrow, or irrevocable letter of credit from an appropriate financial or surety institution which guarantees satisfactory completion of the project and names the Municipality of Grafton as the beneficiary. The security shall be in an amount to be determined by the Municipality of Grafton based on submission of final design plans, with reference to actual construction and landscaping costs as provided by the site owner's and/or applicant's engineer. The performance guarantee shall remain in force until the surety is released from liability by the Municipality of Grafton, provided that such period shall not be less than one year from the date of final acceptance or such other certification that the facility(ies) has been constructed in accordance with the approved plans and specifications and that a one-year inspection has been conducted and the facilities have been found to be acceptable to the Municipality of Grafton.
(b) Maintenance Guarantee. Where stormwater management and erosion and sediment control facilities are to be operated and maintained by the site owner and/or applicant or by a corporation that owns or manages a commercial or industrial facility, the site owner and/or applicant, prior to construction, may be required to provide the Municipality of Grafton with a maintenance bond, cash escrow, or irrevocable letter of credit from an approved financial institution or surety to ensure proper operation and maintenance of all stormwater management and erosion control facilities both during and after construction, and until the facilities are removed from operation. If the site owner and/or applicant fails to properly operate and maintain stormwater management and erosion and sediment control facilities, the Municipality of Grafton may draw upon the account to cover the costs of proper operation and maintenance, including engineering and inspection costs.
(c) Record Keeping. The Municipality of Grafton may require entities subject to this chapter to maintain records demonstrating compliance with this chapter and provide copy and/or annual updates by March 1st of each year.
(Ord. 21-021. Passed 11-16-21.)