If a Development Application includes wetland alteration, wetland or wetland buffer strip landscaping or construction of a wetland buffer strip the applicant must file with the Zoning Administrator or his or her designee prior to release of the final plat, or, if there is no plat approval involved, prior to the first building permit for the entire subject property, a performance bond, cash escrow or letter of credit with a corporation approved by the Zoning Administrator, as surety thereon, or other guarantee acceptable to the Zoning Administrator and in an amount determined by the Zoning Administrator as set forth below:
(A) Amount. The amount of the bond shall be for no less than 125% of the amount estimated by the City Engineer as the cost of completing a Wetland Plan for restoration and/or correction of the wetland and/or wetland buffer strip. The performance bond must cover two complete growing seasons following completion of the development and must be conditioned upon complete and satisfactory implementation of the approved Wetland Buffer Strip Landscape Plan or Vegetation Management Plan and final inspection, and written approval, of the wetland buffer strip by the city.
(B) Submittals. The applicant shall provide one copy of a signed contract with an environmental consultant to monitor annual compliance and certify final completion of the wetland buffer strip requirements after the end of the second full growing season after completion of the development.
(C) Form of Application. The performance bond, cash escrow, letter of credit or other guarantee acceptable shall be submitted to the city prior to execution of the Development Agreement and prior to the commencement of the development or the preparations thereof.
(Ord. 0408, passed 12-14-04)