The amount of the financial assurances shall be equal to one-hundred (100%) percent of the estimated cost of implementing the approved reclamation plan. The estimated cost of reclamation shall be calculated by the operator and shall be based on the following factors:
(a) An analysis of the physical activities and materials necessary to implement the approved reclamation plan;
(b) The lead agency’s unit costs for each of the specified activities, or the unit costs for a third party contract, if applicable. When calculating the unit costs of reclamation activities, prevailing wage rates shall not be used,
(c) The number of units for each of the specified activities; and,
(d) An amount to cover contingency costs, not to exceed ten (10%) percent of the reclamation costs estimated above.
The costs associated with the completion of permitted mining shall not be used in the calculation of financial assurances.
The salvage value of buildings and equipment left on-site as a result of abandonment by the operator may be included to offset the costs of reclamation in the calculation of financial assurances. (§ 1, Ord. 1191, eff. September 5, 1996)