No plan shall be granted final approval until the applicant
either:
A. Installs all required improvements in accordance with the terms of
approval and the applicable design standards of said improvements.
B. Posts a form of financial security, acceptable to the Borough Council,
which shall be of sufficient amount to fully cover the costs of all
required improvements in accordance with the terms of approval and
the applicable design standards of said improvements. The Borough
Council shall retain sole discretion in all matters and decisions
related to the acceptance and/or approval of the posting of any financial
security.
When an applicant proposes to provide a financial security,
said financial security shall be submitted to the Borough Council
and its Solicitor for review not less than 14 days prior to the public
meeting of the Borough Council at which the acceptance and/or approval
of proposed financial security will be considered by the Borough Council.
The amount of financial security to be posted for the completion
or required improvements shall be equal to 110% of the cost of completion,
estimated as of 90 days following the scheduled completion date. The
amount of the required financial security shall be based upon a written
estimated cost of completion of required improvements submitted by
the developer or applicant and prepared by a professional engineer
licensed as such by the Commonwealth. Said engineer shall certify,
in writing, that his estimated cost for the completion of the required
improvements is a fair and reasonable estimate. The Borough Council,
upon the recommendation of the Borough Engineer, may, for good cause
shown, refuse to accept the developer's estimated cost. In cases where
the Borough and the developer or applicant are unable to agree on
an estimate, then the estimate shall be recalculated and recertified
by another licensed professional engineer mutually accepted by the
Borough and the developer or applicant. The estimate certified by
the third-party engineer, being presumed fair and reasonable, shall
be deemed the final estimate. In the event that the third-party engineer
is chosen, the cost of his services shall be paid equally by the Borough
and the developer or applicant.
In the case where development is projected over a period of
years, the Borough Council may authorize the submission of final plans
by sections or phases of development, subject to such requirements
or guarantees as to improvements in future sections or phases of development
as it finds essential for the protection of any finally approved section
of the development.
The applicant and/or developer shall provide the Borough and
the Borough Engineer with not less than a seventy-two-hour notice
prior to the commencement of work at the site.
The Borough Engineer shall make periodic inspections to the
site during the construction of improvements to ensure the work is
in conformance with the approved plans. The Borough Engineer shall
promptly provide the Borough Council with a written report after any
such inspection.
If water mains or sanitary sewer lines, or both, along with
apparatus or facilities related thereto, are to be installed under
the jurisdiction and pursuant to the rules and regulations of a public
utility or municipal authority separate and distinct from the Borough,
financial security to assure proper completion and maintenance thereof
shall be posted in accordance with the regulations of the controlling
public utility or municipal authority and shall not be included within
the financial security as otherwise required by this section. A copy
of any such executed financial security shall be provided to the Borough
Council not less than 14 days prior to its next regularly scheduled
meeting at which the final plan shall be considered.
If any portion of the said improvements shall not be approved or shall be rejected by the Borough Council, the applicant shall proceed to complete the same and, upon completion, the same procedure of notification, as outlined in §
430-59, shall be followed.
Nothing herein, however, shall be construed in limitation of
the applicant's right to contest or question by legal proceedings
or otherwise any determination of the Borough Council or Borough Engineer.
In addition to the fees noted in §
430-11 of this chapter, the developer shall be responsible for payment of all engineering fees which the Borough may incur as related to §§
430-50,
430-51,
430-54,
430-55,
430-56 and
430-59 of this chapter. The developer shall be required to fully reimburse the Borough for said engineering fees. The developer shall also be required to fully reimburse the Borough for any engineering and/or other consulting fees which the Borough may incur for the review of any required studies and/or reports within the context of an impact analysis as so defined in Article
II of this chapter. Upon notification by the Borough of such costs, the developer shall provide a certified check or money order to the Borough to fully reimburse the Borough for said engineering fees within 30 days from the billing date from Summit Hill Borough. An approved plan shall not be signed by the Borough Council nor shall any permits related to the development of the site be issued until all fees are paid in full.