A. Building Performance Bond: Each person who secures a building permit for the construction of any new building or structure, any new swimming pool, or for an addition to an existing building or structure or for exterior remodeling of an existing building or structure where the total estimated cost of construction, addition or remodeling, excluding roofing projects, is in excess of thirty thousand dollars ($30,000.00) shall post with the village treasurer a cash performance bond of fifty percent (50%) of all applicable permit fees otherwise established by this Village Code, which performance bond shall be refunded to the permittee if the building commissioner finds that the construction, addition or remodeling has been completed and all plan review, inspection, engineering, and associated review fees and charges have been fully paid in compliance with the rules, regulations and provisions of this code and with state law, otherwise said cash performance bond shall be forfeited to the village without prejudice to all other remedies of the village and the rights of the village to require compliance with all applicable rules, regulations, and provisions of this code and with all applicable state law. Notwithstanding any provisions of this subsection to the contrary, whenever any building performance bond required by this subsection is equal to or greater than fifty thousand dollars ($50,000.00), the applicant or permittee may provide to the village an irrevocable letter of credit in favor of the village in a form approved by the village attorney for ninety percent (90%) of the amount of such building performance bond, but ten percent (10%) of such building performance bond shall be in the form of a cash deposit with the village.
B. Road Bond: Each person who secures a building permit for the construction of any new building or for an addition to an existing building or for remodeling of an existing building where the total estimated cost of construction, addition or remodeling, excluding roofing projects, is in excess of thirty thousand dollars ($30,000.00) shall post with the village treasurer a cash road bond of fifty percent (50%) of the permit fees established by this chapter but in no event less than one thousand dollars ($1,000.00), which shall be refunded to the permittee when an occupancy permit is issued if the building commissioner finds that said construction has been completed without said permittee, permittee's contractors, subcontractors or materialmen having caused substantial damage to streets, roads and highways and/or any appurtenant drainage structures including, but not limited to, ditches and culverts within the village, all without prejudice to the rights of the village to pursue its remedies against the persons responsible for any such damage. Without limiting the generality of the foregoing, the aforesaid cash bond shall ensure the following:
1. The planting of grass and/or sod on the sides of the roads and in drainage ditches and culverts so as to prevent culvert damage and drainage ditch erosion.
2. The removal of all dirt and/or debris from any roadway and drainage ditch.
3. To repair any damage to the configuration and/or pitch of any drainage ditch.
4. To repair any damage to the paved roadway or to the shoulders thereof.
5. To ensure the complete and proper installation of driveway culvert or culverts.
C. Forfeiture: Failure of the permittee or persons acting in consort or combination with permittee to comply with the specifications of this title, or any other applicable provisions of this code, shall result in the forfeiture of any such cash bond held by the village; provided, however, that prior to any such forfeiture the village shall give thirty (30) days' written notice to applicant by U.S. mail, postage prepaid, to the last address shown on the permit application in question that such action is contemplated and that permittee has the right to request a hearing before the corporate authorities of the village on the question of such forfeiture within that time period, and that if the applicant fails to do so, said bond shall be automatically forfeited. If any such cash bond is unclaimed for two (2) years, the same may be forfeited to the village by resolution adopted by the village board; provided, however, that prior to the passage of such a resolution the applicant shall be given thirty (30) days' written notice by U.S. mail, postage prepaid, at the last address shown on the permit application in question, that such forfeiture is contemplated if the applicant fails to claim the funds in question within that time period.
In the event that the aforesaid deposit is insufficient to pay for the cost of the items set forth in subsection 7-2-7C, the applicant shall be responsible for and shall immediately pay to the village the balance of the cost and expense thereof.
D. Refund: If after a thorough investigation the building commissioner finds that the construction, addition, or remodeling has been completed and all plan review, inspection, engineering, and associated review fees and charges have been fully paid in compliance with the rules, regulations and provisions of this code and with state law, the village board will approve the refund of such bond, and all inspections and all other applicable approvals have been approved by the village, but said bond shall only be refunded to the original party that paid the bond deposit. A bond refund form may be obtained from the village and must be completed by the original party that paid the bond and submitted it to the village for approval by the building commissioner and the village accountant before being placed on a warrant for approval by the village board. No other party or entity shall be entitled to receive the refund of a bond deposit except the original party that made the original bond deposit. (Ord. 2013-O-07, 6-5-2013, eff. retroactive to 4-26-2013; amd. Ord. 2020-O-05, 2-4-2020)