A.
The amount of the financial security required shall be based upon
an estimate of the cost of completion of the required improvement(s).
(1)
The amount of the financial security shall be sufficient to
cover the costs of public improvements and common amenities, including,
but not limited to, streets, stormwater detention and/or retention
basins, and other related drainage facilities, recreational facilities,
open space improvements, landscaping, and buffers or screen plantings
which may be required in accordance with § 509(a) of the
MPC.[1]
[1]
Editor's Note: See 53 P.S. § 10509(a).
(2)
The amount of financial security to be posted for the completion
of the public improvements shall be equal to 110% of the cost of completion
estimated as of 90 calendar days following the date scheduled for
completion by the applicant. The amount of the financial security
shall be based on a cost estimate submitted by the applicant and prepared
by a registered professional engineer licensed in Pennsylvania. The
cost estimate shall be certified as being "a fair and reasonable estimate"
of the cost of public improvements.
(3)
The cost estimate shall be sealed by a Professional Engineer.
(4)
The Borough Engineer shall review the proposed cost estimate
and make a recommendation to the Borough Manager or appointed representative
as to acceptance and may provide an alternate estimate if deemed unacceptable.
B.
If the applicant and the Borough cannot agree upon a cost estimate,
then the estimate shall be recalculated and recertified by another
registered professional engineer chosen mutually by the applicant
and the Borough. The estimate by the third engineer shall be deemed
as the final estimate.
(1)
If a third engineer is selected, the fees for services shall
be evenly divided between the applicant and the Borough.
A.
At the request of the applicant and in order to facilitate financing,
the Borough shall furnish the applicant with a signed copy of a resolution
indicating approval of the applicant's final plat contingent
upon the obtaining of a satisfactory financial security. The final
plat shall not be signed by the Borough Council and other Borough
officials until a satisfactory financial security is presented. The
resolution of contingent approval shall expire and be deemed to be
revoked if the financial security is not presented within 90 calendar
days unless a written extension is granted by the Borough Council
in accordance § 509(b) of the MPC.[1]
[1]
Editor's Note: See 53 P.S. § 10509(b).
A.
As the work of installing the required improvements proceeds, the
applicant may request the Borough to release or authorize the release,
from time-to-time, of such portions of the financial security necessary
for payment to the contractor or contractors performing the work.
B.
Any such requests must be in writing and describe the portion of
the work that has been completed in accordance with the approved plat
and the amount of security requested to be released.
C.
The Borough shall have 45 calendar days from receipt of such request
to have the Borough Engineer certify in writing to the Borough that
such portion of the work upon the improvements has been completed
in accordance with the approved plat. Upon such certification the
Borough shall authorize release by the bonding company or lending
institution of an amount as estimated by the Borough Engineer fairly
representing the value of the improvements completed, or if the Borough
fails to act within said forty-five-day period the release of funds
shall be deemed approved. Notwithstanding anything to the contrary,
the Borough may, prior to final release at the time of completion
and certification by its appointed Engineer, require retention of
10% of the estimated cost of improvements.
D.
If any portion of the said improvement(s) shall not be approved,
or shall be rejected by the Borough, the applicant shall proceed to
complete the same and, upon completion, the same procedure of notification
as identified above shall be followed.
E.
The applicant shall reimburse the Borough for the reasonable and
necessary fees based upon a schedule established by ordinance or resolution.
Such fees shall be those customarily paid for engineering or consulting
work performed in the Borough.
A.
When the applicant has completed all of the necessary and appropriate improvements, he/she shall notify the Borough, in writing, by certified or registered mail, of the completion of said improvements, and shall also send a copy to the Borough Engineer. The Borough shall, within 10 calendar days after receipt of such notice, direct the Borough Engineer to inspect all of the installed improvements. See Article VII of this chapter with regards to the final inspection procedures.
B.
Within 30 calendar days of authorization by the Borough Council,
the Borough Engineer shall file a report, in writing, of the result
of the inspection. A copy shall also be forwarded to the applicant
by certified or registered mail. The report shall detail the improvements
and shall indicate approval or rejection, in whole, or in part of
the improvement(s). Rejection, in whole, or in part of the improvement(s)
shall contain a statement of reasons for such recommendation.
C.
The Borough shall notify the applicant within 15 calendar days of
receipt of the engineer's recommendation, in writing, by certified
or registered mail, of the action by the Borough Council.
D.
If any portion of the said improvement(s) shall not be approved,
or shall be rejected by the Borough, the applicant shall proceed to
complete the same and, upon completion, the same procedure of notification
as identified above shall be followed.
E.
The applicant shall reimburse the Borough for the reasonable and
necessary fees based upon a schedule established by ordinance or resolution.
Such fees shall be those customarily paid for engineering or consulting
work performed in the Borough.
