(a) If a Comprehensive Stormwater Management Plan is required by this regulation, soil-disturbing activities shall not be permitted until a bond in accordance with § 1254.12, has been deposited with the Finance Department. The stormwater bond will be returned, less city administrative fees, when the following criteria are met:
(1) City has performed a final inspection, received a final As-built, Maintenance Plan and Inspection and Maintenance Agreement in accordance with § 1257.11.
(2) For subdivisions after 80% of the lots of the project have been complete or 100% of the total project has been permanently stabilized and five years from the time of permanent stabilization have passed.
(b) Once these criteria are met, the applicant shall be reimbursed all bond monies that were not used for any part of the project as they relate to this chapter. If all of these criteria are not met, the city may use the bond monies to fix any outstanding issues with all stormwater management structures on the site and the remainder of the bond shall be given to the private lot owner/homeowners association for the purpose of long-term maintenance of the project.
(Ord. 2008-29, passed 4-7-2008; Ord. 2012-255, passed 12-3-2012; Ord. 2016-208A, passed 12-19-2016)