As a condition of approval and issuance of the permit, the city shall require the applicant to provide assurance in form of an irrevocable letter of credit or a bond when the stormwater management plan has been approved and before construction begins. The assurance will guarantee a good faith execution of the stormwater drainage plan, the stormwater pollution prevention plan, the stormwater quality management plan and any permit conditions. The assurance shall be for an amount equal to 100% of the total costs of all stormwater management measures for the entire project. The above mentioned costs shall be based on an estimate as prepared by a registered engineer or land surveyor. The costs shall be for the installation and continuous monitoring and maintenance of erosion control measures and the construction and continuous monitoring and maintenance of storm drainage infrastructure, detention/retention facilities, and stormwater quality BMPs, as regulated under this chapter. Assurances shall be for a minimum of $500. Local governmental jurisdictions may require additional performance and/or maintenance assurances. The intent of this assurance is not only to complete the installation of storm drain infrastructure for the project, but also to ensure that adequate stormwater pollution prevention measures are properly installed and maintained. If adequate assurances are set aside by the project site owner for the overall project, proof of total assurance can be submitted in place of an individual stormwater assurance.
(Ord. 06-15, passed 11-13-2006; Ord. 2015-01, passed 1-26-2015)