(A) In general. As the work of installing the required improvements proceeds, the party posting the financial security may request the borough to release or authorize the release, from time to time, portions of the financial security necessary for payment to the contractors performing the work.
(B) Notice by developer of work on improvements. The developer or his or her representative should provide a minimum of three days’ notice to the Borough Engineer prior to beginning each major facet of construction, in order to allow the scheduling of inspections.
(C) Engineer’s report.
(1) Within 30 days of the receipt of such request, the Borough Engineer shall submit a written report certifying which improvements have been completed in accordance with the approved plan to the borough and mail a copy of such, by certified or registered mail, to the developer or his or her representative at his or her last known address.
(2) This report shall be based on the inspections made according to the approved inspection schedule included in the development agreement and shall recommend approval or rejection of the improvements, either in whole or in part.
(3) If the Borough Engineer finds any or all of the improvements to be not as required, he or she shall include a statement of the reasons for recommending his or her rejection in the report.
(D) Decision by borough.
(1) At its first regularly scheduled meeting after receiving the Engineer’s report (but not later than 45 days, of the receipt of the request) the borough shall review the Borough Engineer’s report and shall authorize release of an amount as estimated by the Borough Engineer fairly representing the value of the improvements completed.
(2) The borough shall be deemed to have approved the release of funds as requested if the borough fails to act within 45 days of receipt of the developer’s request.
(3) Until final release (completion of all improvements), the borough may require retention of a maximum of 10% of the cost of each completed improvement.
(4) The borough shall notify the developer in writing by certified or registered mail of the decision.
(E) Completion of unapproved improvements. The developer shall proceed to complete any improvements not approved by the borough and, upon completion, request approval in conformance with the procedures specified in this section.
(F) Final release.
(1) When the developer has completed all of the necessary and appropriate improvements, the developer shall request final release in conformance with the procedures specified in this section. See time limitations and procedures in § 510 of the Municipalities Planning Code (53 P.S. § 10510).
(2) Such final release shall include all monies retained under division (D)(3) above.
(G) Appeal. Nothing herein, however, shall be construed to limit the developer’s right to contest or question by legal proceedings or otherwise any determination of the borough or the Borough Engineer.
(Ord. 1432, passed 5-18-2015, Art. 6, § 605)