The administration of the financial security
shall comply with the provisions of this article, the MPC and other
applicable laws of the commonwealth.
A. Submission of financial security. Final plan applications
which include required improvements that have not been installed,
shall include a financial security and memorandum of understanding
in a form acceptable to the Township Solicitor which identifies the
development, improvements required, and time limits within which improvements
shall be completed.
(1) Type of financial security. Financial security must
comply with the following, and is subject to review by the Township
Solicitor and Board of Supervisors for adequacy.
(a)
Irrevocable letter of credit. A letter provided
by the developer from a federally chartered financial institution.
(b)
Escrow account. A deposit of cash either with
the Township or in escrow with a federally chartered financial institution.
(c)
Surety performance bond. A security bond from
a surety bonding company authorized to do business in the Commonwealth
of Pennsylvania.
(2) General contents. The terms of any financial security
documents shall be acceptable to the Township Solicitor. In addition
to other information required by the Township, financial securities
shall include the following:
(a)
The amount of secured funds.
(b)
In case of failure on the part of the developer
to complete the specified improvements within a time period specified
in a written agreement, the funds shall be paid to the Township immediately
and without further action, upon presentation of a signed draft in
an amount necessary to finance the completion of those improvements,
up to the limit of the security.
(c)
The security is irrevocable and may not be withdrawn,
or reduced in amount by other than the Township, until release or
partially released by the Township.
(3) Amount of financial security. The amount of financial
security shall established in accordance with MPC requirements.
B. Release of financial security.
(1) When all or part of the financially secured improvements
are completed, the developer may notify the Board of Supervisors and
request a release of the financial security. Requests for a reduction
of a portion of the financial security shall be limited to an amount
that is at least a minimum 20% of the original total financial security,
unless a smaller percentage equals at least $100,000. If an improvement
has been dedicated to the Township, the request for release of financial
security shall include a deed of dedication in a form acceptable to
the Township Solicitor, a title insurance policy or certificate of
title demonstrating good and marketable title, payment of any fees
required to process the acceptance of the dedication.
(2) All requests for release of financial security shall be in writing, by certified or registered mail to the Board of Supervisors, at the Township Municipal Office, and a copy thereof shall be sent by the developer to the Township Engineer. This notice shall include the as-built plan in accordance with §
430-25.
(3) After receipt of notice for release of financial security, the Board of Supervisors shall review and act upon requests for release of financial security in accordance with MPC requirements. A portion of the financial security may be retained as a maintenance guarantee in accordance with §
430-23.
C. Other remedies. If proceeds of the financial security
are insufficient to pay the cost of installing or making repairs or
corrections to all the improvements covered by said security, the
Board of Supervisors may, at its option, install all or part of such
improvements and may institute appropriate legal or equitable action
to recover the funds necessary to complete the remainder of the improvements.
All of the proceeds, whether resulting from the security or from any
legal or equitable action brought against the applicant, or both,
shall be used solely for the installation of the improvements covered
by such security, and not for any other municipal purpose.
The procedure is available for the installation
of required improvements in lieu of placing financial security with
the Township.
A. Authorization for construction.
(1) The applicant may receive approval to construct only
the improvements required as part of this chapter upon receipt of
conditional final plan approval with the only outstanding condition
being the guarantee of public improvements, the recording of the plan.
However, the approvals/permits from other agencies with jurisdiction
shall be obtained.
(2) The construction of improvements is limited to streets,
street signs, street trees, sidewalks, curbs, survey monuments and
markers, landscaping required by this chapter, storm drainage for
dedication or which affects adjacent properties or streets, sanitary
sewer facilities for multiple use, water supply facilities for multiple
use, fire hydrants, and other such improvements.
B. Completion of public improvement.
(1) When all or part of the required improvements are complete, the developer shall notify the Board of Supervisors. Except for mandatory inspection during construction, notification of completion of a portion of the required improvements is only necessary should the developer elect to financially secure the remaining improvements in accordance with §
430-20.
(2) Notification of completion of improvements shall be in writing, by certified or registered mail, and a copy thereof shall be sent to the Township Engineer. This notice shall include the as-built plan in accordance with §
430-25.
(3) After receipt of notice that improvements are completed,
the Board of Supervisors shall, within 10 days, authorize the Township
Engineer to inspect all of the aforesaid improvements. The Township
Engineer shall, thereupon, within 30 days of authorization, file a
report, in writing, with the Board of Supervisors, and shall promptly
mail a copy of the same to the developer by certified or registered
mail. The report shall be detailed and shall indicate approval or
rejection of said improvements, either in whole or in part, and if
said improvements, or any portion thereof, are not approved by the
Township Engineer, said report shall contain a statement of reasons
for such rejection.
(4) The Board of Supervisors shall notify the developer,
within 15 days of receipt of the Township Engineer's report, in writing
by certified or registered mail of the action of the Board of Supervisors
with relation thereto.
(5) If any portion of the said improvements shall not
be approved by the Board of Supervisors, the developer shall proceed
to complete the same and, upon completion, the same procedure of notification,
as outlined herein, shall be followed.
(6) Nothing herein, however, shall be construed in limitation
of the developer's right to contest or question by legal proceedings
or otherwise, any determination of the Board of Supervisors or the
Township Engineer.
All improvements shall be deemed to be private
improvements and only for the benefit of the specific proposal until
such time as the same have been offered for dedication and formally
accepted by the Board of Supervisors. No responsibility of any kind
with respect to improvements shown on the final plan shall be transferred
until the improvements have been formally accepted. All requests for
dedication shall be made in accordance with Township rules and regulations,
shall include all information required by the Township for processing
such a request, and shall be accompanied by any required filing fee.
If a developer requests that the Township accept dedication of streets,
the developer shall prepare traffic studies meeting all PennDOT requirements
to support the establishment of stop intersection, speed limits, and
other traffic controls and shall reimburse the Township for all costs
associated with the enactment of ordinances and installation of signs
and traffic control devices.
The Board of Supervisors may, at its discretion,
require the developer to submit a maintenance guarantee or other approved
guarantee as specified herein, guaranteeing the structural integrity
as well as function of any improvement shown on the final plan for
a term not to exceed 18 months from the date of acceptance of dedication
by the Board of Supervisors. Said guarantee shall be 15% of the actual
cost of installation of said improvements and be of the same type
of financial security as required in this article.
Upon completion of construction of all required
improvements and prior to final inspections of improvements, the developer
shall submit an as-built plan, signed and sealed by a registered surveyor
or engineer, showing the actual location, dimension and elevation
of all existing improvements. In addition, the as-built plan shall
demonstrate that the existing grading, drainage structures and/or
drainage systems and erosion and sediment control practices, including
vegetative measures, are in substantial conformance with the previously
approved drawings and specifications. The as-built plan shall specifically
identify all deviations from the previously approved drawings. The
applicant's engineer shall certify that the construction of the stormwater
management facility was completed in accordance with the plans and
specifications as originally submitted and approved by the Township.
Three paper copies of the as-built plan shall be submitted to the
Zoning Officer who shall distribute a paper copy to the Township Engineer
and retain two copies for the Township files.
No required improvement shall be considered
complete until the developer has submitted the required as-built plan,
any required legal descriptions or deeds of dedication, proof or recording
of all agreements relating to use and maintenance of joint-use driveways,
community sewer systems, community water systems, and similar features,
and/or traffic studies for streets. No required improvement shall
be considered complete until the developer has paid all inspection
fees and all fees associated with the acceptance of dedication of
a dedicated improvement.