(A) All applications for a stormwater management plan approval must be accompanied by a processing and approval fee as determined by ordinance of the City Council. An escrow account may be required by the city to pay for actual engineering costs incurred by the city.
(B) Financial securities.
(1) Amount.
(a) The city shall require financial securities from the applicant in an amount sufficient to cover the entirety of the estimated costs of permitted and remedial work based on the final design as determined by the city.
(b) An escrow amount, as defined in the city’s fee schedule and commensurate with the type of activity as determined by the city shall be paid by cash deposit to the city and shall be designated for erosion and sediment control. This deposit will be held by the city in a separate account.
(2) Financial securities shall not be released until all permitted and remedial work is completed.
(3) Financial securities may be used by the city to complete work not completed by the applicant.
(4) Form of security. The form of the securities shall be one or a combination of the following to be determined by the city:
(a) Cash deposit;
(b) Irrevocable letter of credit in a form approved by the city; or
(c) Other forms and securities (e.g. disbursing agreement) as approved by the city.
(5) Maintaining the financial security. If at any time during the course of the work the available balance falls below 50% of the required amount, the applicant shall make another deposit in the amount necessary to restore the cash deposit to the required amount. If the applicant does not bring the financial security back up to the required amount within seven days after notification by the city that the amount has fallen below 50% of the required amount the city may:
(a) Withhold the scheduling of inspections related to the project; or
(b) Revoke any permit issued by the city to the applicant for the project.
(6) Action against the financial security. The city may access financial security for remediation actions if any of the conditions listed below exist. The city shall use the security to finance remedial work undertaken by the city or a private contractor under contract to the city, or to reimburse the city for all direct costs incurred in the process of remedial work including, but not limited to, staff time and attorney's fees.
(a) Abandonment. The applicant ceases land disturbing activities and/or filling and abandons the work site prior to completion of the grading plan.
(b) Failure to implement the SWPPP or ESC plan. The applicant fails to conform to the grading plan and/or the SWPPP as approved by the city.
(c) Failure to perform. The techniques utilized under the SWPPP fail within one year of installation.
(d) Failure to reimburse city. The applicant fails to reimburse the city for corrective action taken.
(7) Proportional reduction of the financial security. When more than one-third of the applicant's maximum exposed soil area achieves final stabilization, the city can reduce the total required amount of the financial security by one-third. When more than two-thirds of the applicant's maximum exposed soil area achieves final stabilization, the city can reduce the total required amount of the financial security to two-thirds of the initial amount. This reduction in financial security will be determined by the city.
(8) Returning the financial security. The security deposited with the city for faithful performance of the SWPPP or the ESC plan and any related remedial work shall be released one full year after the completion of the installation of all stormwater pollution control measures as shown on the SWPPP or ESC plan.
(9) Emergency action. If circumstances exist such that noncompliance with this Division poses an immediate danger to the public health, safety and welfare, as determined by the city, the city may take emergency preventative action. The city shall also take every reasonable action possible to contact and direct the applicant to take any necessary action. Any cost to the city may be recovered from the applicant's financial security.
(Ord. 20220120-01, passed 1-20-22)