(A) The Planning Commission shall require the submittal of an irrevocable letter of credit (LOC) or subdivision bond payable to JCFC, as performance security prior to recording of final plats in order to insure that the SWMPRs are installed by the permit holder as required by the approved SWMPL. The amount of the installation performance security shall be the total estimated construction cost of the SWMPL approved under the permit, plus 25%. The performance security shall contain forfeiture provisions for failure to complete work specified in the SWMPL.
(B) The installation performance security shall be released in full only upon submission of “as-built plans” and written certification by a licensed professional engineer that the SWMPRs have been installed in accordance with the approved SWMPL and other applicable provisions of this chapter. The Planning Commission staff will make a final inspection of the SWMPRs to ensure that they are in compliance with the approved SWMPL and the provisions of this chapter. Provisions for a partial pro-rata release of the performance security based on the completion of various development stages can be done at the discretion of the JCFC upon recommendation of the Planning Commission.
(Ord. passed 4-30-2013)