[Amended 1-6-1992 by Ord. No. 65B]
A.
No subdivision and/or land development application
shall be finally approved unless the streets shown on such plan have
been improved to a mud-free or otherwise permanently passable condition,
or improved as required by this chapter and any walkways, curbs, gutters,
street lights, fire hydrants, shade trees, water mains, sanitary sewers,
storm sewers and other improvements as required by this chapter have
been installed in accordance with this chapter. In lieu of the completion
of any improvements required as a condition for final plan approval,
including improvement or fees, the landowner or developer shall deposit
financial security with the Township in an amount sufficient to cover
the costs of such improvements or common amenities including, but
not limited to, roads, stormwater detention and/or retention basins
and other related drainage facilities, recreational facilities, open
space improvements, or buffer or screen plantings which are or may
be required.
B.
When requested by the landowner or developer, in order
to facilitate financing, the Board of Supervisors shall furnish the
developer with a signed copy of a resolution indicating approval of
the final plan contingent upon the developer obtaining a satisfactory
financial security. The final plan (record plan) shall not be signed
nor recorded until the financial improvements agreement is executed.
The resolution or letter of contingent approval shall expire and be
deemed to be revoked if the financial security agreement is not executed
within 90 days unless a written extension is granted by the Board
of Supervisors. Such extension shall not be unreasonably withheld
and shall be placed in writing at the request of the landowner or
developer.
In lieu of the completion of the streets and other improvements required as a condition for the final approval of the subdivision and/or land development plan as set forth in §§ 110-11R and 110-39 herein, the landowner or developer may deposit financial security acceptable to the Board of Supervisors (except as set forth in § 110-40E, herein) in an amount sufficient to cover the costs of such improvements, estimated, calculated and determined in accordance with the following:
A.
Such financial security shall include, but is not
limited to, performance bonds, surety bonds, federal or commonwealth
chartered lending institution irrevocable letters of credit, and restrictive
or escrow accounts in such lending institutions. Such bond or other
security shall provide for and secure to the Township the completion
of all improvements which may be required within one year or such
other time that may be fixed by the Board of Supervisors for such
completion. Such financial security shall be posted with a bonding
company or federal or commonwealth chartered lending institution,
provided said company or institution is authorized to conduct such
business within the commonwealth.
B.
Amount of security.
[Amended 1-6-1992 by Ord. No. 65B]
(1)
The amount of financial security to be posted for
the completion of the required improvements shall be equal to 110%
of the cost of completion estimated as of 90 days following the date
scheduled for completion by the landowner or developer. The Township
may adjust the amount of the financial security annually, by comparing
the actual cost of the improvements which have been completed and
the estimated cost for the completion of the remaining improvements
as of the expiration of the 90th day after either the original date
scheduled for completion or a rescheduled date of completion. Subsequent
to said adjustment, the Township may require the landowner or developer
to post additional security in order to assure that the financial
security equals said 110%. Any additional security shall be posted
by the landowner or developer in accordance with this subsection.[1]
(2)
The amount of financial security required shall be
based upon an estimate of the cost of completion of the required improvements,
submitted by a landowner or developer and prepared by a professional
engineer licensed as such in this commonwealth and certified by such
engineer to be a fair and reasonable estimate of such cost. The Township,
upon the recommendation of the Township Engineer, may refuse to accept
such estimate for good cause shown. If the landowner or developer
and the Township are unable to agree upon an estimate, then the estimate
shall be recalculated and recertified by another professional engineer
licensed as such in this commonwealth and chosen mutually by the Township
and landowner or developer. The estimate certified by the third engineer
shall be presumed fair and reasonable, and shall be the final estimate.
In the event that a third engineer is so chosen, fees for the services
of said engineer shall be paid equally by the Township and the landowner
or developer.
C.
If the party posting the financial security requires more than one year from the date of posting the financial security to complete the required improvements, the amount of financial security may be increased by an additional 10% for each one-year period beyond the first anniversary date from the posting of financial security, or to an amount not exceeding 110% of the cost of completing the required improvements as reestablished on or about the expiration of the preceding one-year period through an estimate of costs as set forth in § 110-40B above.
D.
In the case where development is projected over a
period of years, the Board of Supervisors may authorize submission
of final plans by section or stages of development subject to such
requirements or guarantees as to improvements in future sections or
stages of development as it finds essential for the protection of
any finally approved section of the development. As the work of installing
the required improvements proceeds, the party posting the financial
security may request that the Board of Supervisors release, or authorize
the release, from time to time, such portions of the financial security
necessary for payment to the contractor or contractors performing
the work. Any such request shall be in writing addressed to the Board
of Supervisors, whereupon, the Board shall have 45 days from receipt
of such request within which to allow the Township Engineer to certify
in writing to the Board that said improvements have been completed
in accordance with the approved plans. Upon such certification the
Board of Supervisors shall authorize release by the bonding company
or lending institution of an amount as estimated by the Township Engineer,
fairly representing the value of the improvements completed or, if
the Board of Supervisors fails to act within said forty-five-day period,
the Board of Supervisors shall be deemed to have approved the release
of funds as requested. The Board of Supervisors may, prior to final
release at the time of completion and certification by the Township
Engineer, require 10% of the estimated cost of the aforementioned
improvements to be retained. The Township Engineer, in certifying
the completion of work for a partial release, shall not be bound to
the amount requested by the developer, but shall certify to the Board
of Supervisors an independent evaluation of the proper amount of partial
releases.
[Amended 1-6-1992 by Ord. No. 65B]
E.
If water mains or sanitary sewer lines, or both, along
with apparatus or other 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 Township, 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.
Upon the completion of the required improvements,
the landowner or developer shall so notify the Board of Supervisors
in writing, by certified or registered mail, sending a copy thereof
to the Township Engineer. Within 10 days after receipt of such notice
the Board of Supervisors shall direct and authorize the Township Engineer
to inspect all of the said improvements for compliance with the terms
of this chapter.
B.
Within 30 days after receipt of the aforementioned
authorization from the Board of Supervisors, the Township Engineer
shall file a report in writing of such inspection with the Board of
Supervisors and shall concurrently mail a copy thereof to the developer
by certified or registered mail. Such report shall be detailed and
shall clearly and specifically indicate approval or rejection of such
improvement, either in whole or in part, and if such improvements,
or any part or portion thereof, shall not be approved, or shall be
rejected by the Township Engineer, such report shall contain a statement
of the reasons for such nonapproval or rejection.
C.
The Board of Supervisors shall notify the landowner
or 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.
[Amended 1-6-1992 by Ord. No. 65B]
D.
If the Board of Supervisors or the Township Engineer
fails to comply with the time limitation provisions contained herein,
all improvements will be deemed to have been approved and the landowner
or developer shall be released from all liability, pursuant to its
performance guaranty bond or other security agreement.
[Added 1-6-1992 by Ord. No. 65B]
E.
If any part or portion of the said improvements shall
not be approved, or shall be rejected by the Board of Supervisors,
the landowner or developer shall correct and complete the same; and
the same procedure as set forth within this section shall be followed
and applied.
[Amended 1-6-1992 by Ord. No. 65B]
F.
The landowner or developer shall be responsible for maintenance of all improvements until such improvements as are offered for dedication are accepted by the Township. Ten percent of the completion guarantee shall be retained as financial security until a maintenance guarantee as provided for in § 110-44 herein has been posted and as-built plans are verified and accepted by the Township Engineer.
[Amended 1-6-1992 by Ord. No. 65B]
G.
Where the Board of Supervisors accepts dedication
of all or some of the required improvements following completion,
the Board may require the posting of financial security to secure
structural integrity of said improvements as well as the functioning
of said improvements in accordance with the design and specifications
as depicted on the final plan for a term not to exceed 18 months from
the date of acceptance of dedication. Said financial security shall
be of the same type as otherwise required in this section with regard
to installation of such improvements, and the amount of the financial
security shall not exceed 15% of the actual cost of installation of
said improvements.
[Added 1-6-1992 by Ord. No. 65B]
H.
If financial security has been provided in lieu of
the completion of improvements required as a condition for the final
plan approval, the Township shall not condition the issuance of building,
grading or other permits relating to the erection or placement of
improvements, including buildings, upon the lots of land as depicted
upon the final plan upon actual completion of the improvements depicted
upon the approved final plan. Moreover, if said financial security
has been provided, occupancy permits for any building or buildings
to be erected shall not be withheld following the improvement of the
streets providing access to and from existing public roads to such
building or buildings to a mud-free or otherwise permanently passable
condition, as well as the completion of all other improvements as
depicted upon the approved final plan, either upon the lot or lots
or beyond the lot or lots in question if such improvements are necessary
for the reasonable use of or occupancy of the building or buildings.
[Added 1-6-1992 by Ord. No. 65B]
I.
Nothing herein, however, shall be construed in limitation
of the landowner's or developer's right to contest or question by
legal proceedings or otherwise, any determination of the Board of
Supervisors or the Township Engineer.
[Added 1-6-1992 by Ord. No. 65B]
[Amended 1-6-1992 by Ord. No. 65B]
In the event that any improvements which may
be required under this chapter have not been installed as provided
in this chapter, or in accordance with the approved final plan, the
Board of Supervisors may enforce the bond or other security by appropriate
legal and equitable remedies. If the proceeds of such bond or other
security are insufficient to pay the cost of installing or making
repairs or correction to all the improvements covered by such bond
or security, the Board of Supervisors may, at its option, install
part of such improvements in all or part of the subdivision or land
development and may institute appropriate legal or equitable action
to recover from the land developer the monies necessary to complete
the said improvements. All of the proceeds, whether resulting from
the security or from legal or equitable action brought against the
landowner or developer, or both, shall be used solely for the installation
of improvements covered by such security.
Upon completion of the construction of improvements
in accordance with the approved subdivision or land development plan;
the following conditions shall apply to the offer of dedication of
the same and the acceptance thereof:
A.
The Board of Supervisors shall have no obligation
to take over and make public any street or other improvement in or
abutting a subdivision or land development. If the Board of Supervisors
elects to accept an offer of dedication, such acceptance shall not
occur unless and until:
(1)
The required improvements and monuments as shown on
the approved subdivision and/or land development plan, conservation
plan, and improvement construction plan shall have been certified
by the Township Engineer as having been constructed and installed
in accordance with the provisions of this chapter, and all other ordinances,
codes, regulations, plans and maps of the Township as shall be applicable.
(2)
A maintenance guarantee is provided through the posting of financial security, such as that deemed to be acceptable to the Township as set forth in § 110-40A herein. Such guarantee shall assure the structural integrity of required improvements as well as the functioning of said improvements, in accordance with the design and specifications as depicted on the approved final plans for a term not to exceed 18 months from the date of acceptance of dedication. Said financial security shall be in an amount equivalent to 15% of the actual cost of installation of the required improvements.
