Fair Haven City Zoning Code
§ 30-10.4
Safety and Stabilization Guarantee.
[Ord. No. 2018-08]
a.
In addition to a performance guarantee required pursuant to subsection 30-10.2, a developer shall furnish to the Borough a separate guarantee, referred to herein as a "safety and stabilization guarantee," in favor of the Borough, to be available to the Borough solely for the purpose of returning property that has been disturbed to a safe and stable condition or otherwise implementing measures to protect the public from access to an unsafe or unstable condition, only in the circumstance that:
1.
Site disturbance has commenced and, thereafter, all work on the development has ceased for a period of at least 60 consecutive days following such commencement for reasons other than force majeure, and
2.
Work has not recommenced within 30 days following the provision of written notice by the Borough to the developer of the Borough's intent to claim payment under the guarantee.
b.
The amount for the safety and stabilization guarantee shall be calculated to equal the following:
1.
For a development with bonded improvements in an amount not exceeding $100,000 shall be $5,000.
2.
For a development with bonded improvements exceeding $100,000 shall be calculated as a percentage of the bonded improvement costs of the development or phase of development as follows:
(a)
$5,000 for the first $100,000 of bonded improvement costs, plus 2.5% of bonded improvement costs in excess of $100,000 up to $1,000,000, plus 1% of bonded improvement costs in excess of $1,000,000.
c.
Notice.
1.
The Borough shall not provide notice of its intent to claim payment under a safety and stabilization guarantee until a period of at least 60 days has elapsed during which all work on the development has ceased for reasons other than force majeure. The Borough shall provide written notice to a developer by certified mail or other form of delivery providing evidence of receipt.