(a) The City Engineer
not approve a
until the
submits to the city, in a form and amount satisfactory to the city, a letter of credit or other financial guarantee for the timely and satisfactory construction of all storm water runoff facilities and site
in accordance with the approved
. Upon certification by a registered professional engineer that the storm water runoff facilities have been completed in accordance with the approved
including, but not limited to, the provisions contained in § 1046.022(b)(8), the city
release the letter of credit, or other financial guarantee subject to final city acceptance and approval.
(b) The letter of credit or other financial guarantee
be accessed when:
(1) Violation of this chapter has occurred as determined by the
;
(2) Three notifications to the
detailing the infraction have been issued; and
(3) No corrective action has being taken by the
within 30 days of final notification.
(c) Except as provided in division (e) below, the amount of the financial guarantee
be as determined by the City Council in a resolution of fees for city services, unless the
determines that a greater amount is appropriate, in which case the basis for such determination shall be provided to the
in writing. In determining whether an amount greater than the amount established by resolution of City Council is appropriate, the
shall consider the size and type of the development, the size and type of the on-site storm water system, and the nature of the off-site storm water runoff facilities the development will utilize.
(d) The letter of credit or other financial guarantee will not be permitted to expire until any necessary maintenance agreements for storm water facilities established by the
has been signed.
(e) A maintenance bond
be provided to the appropriate agency. The maintenance bond shall be provided for a period of two years commencing from the date of the final approval of the
.
(f) The City
reduce or waive the amount of the financial guarantee for a development that will not increase the percentage of
of the
by more than 10%.
(g) This chapter shall not be construed or interpreted as relieving a
of its obligation to pay all costs associated with on-site private storm water runoff facilities as well as those costs arising from the need to make other storm water
in order to reduce a development’s impact on a
consistent with adopted design standards.
(Ord. 1411-04, passed 12-10-2014)