[Ord. 2013-03, 6/11/2013]
Whenever, as part of a subdivision or land development application, an applicant is required to obtain a PennDOT highway occupancy permit ("HOP") and PennDOT requires the Township to be an applicant or coapplicant for the HOP or to sign a condition statement, the Township shall not sign either unless the applicant has paid a stormwater capital contribution to the Township, calculated as follows:
A. 
If the stormwater facilities are to be owned and maintained by the Township, the deposit shall cover the estimated costs for maintenance, repair, and replacement required pursuant to Chapter 26, Part 1, § 26-166, of the Plumstead Township and inspections required pursuant to Chapter 26, Part 1, § 26-167, of the Plumstead Township Code for 10 years. The Township Engineer will establish the estimated costs upon review of information submitted by the applicant.
B. 
If the stormwater management facilities are to be owned and maintained by a private entity, the deposit shall cover the estimated costs for maintenance, repair, replacement required pursuant to Chapter 26, Part 1, § 26-166, of the Plumstead Township Code and inspections required pursuant to Chapter 26, Part 1, § 26-167, of the Plumstead Township Code for 10 years. The Township Engineer will establish the estimated costs upon review of information submitted by the applicant.
C. 
The amount of the deposit to the fund shall be converted to present worth of the annual series of payments. The Township Engineer shall determine the present worth equivalents, which shall be subject to the approval of the Board of Supervisors.