8-4-5-10-24: MITIGATION REQUIRED FOR NONPERFORMING WETLAND:
At the end of the five (5) year monitoring period or upon an earlier request for the release of the performance security, the administrator shall evaluate the wetland mitigation facility for compliance with the performance standards of section 8-4-5-10-22 of this chapter. If the administrator determines that the facility meets the standards they shall release the performance security. If the administrator determines that the facility does not meet the standards they shall make an estimate of the probable cost of mitigating for the shortfall in performance. The administrator shall then draw on the performance security the amount estimated to mitigate the shortfall in performance and shall release the remainder. The amount withheld for mitigation shall be deposited in the fund created under and expanded in the manner described in section 8-4-5-19-3 of this chapter. (Ord. 2016-003, 3-8-2016)