[Added 9-20-2017 by Ord. No. 6B]
In the interest of ensuring compliance with this chapter provisions, protecting the natural resources and the health, safety and welfare of the residents of the Township, and future users or inhabitants of an area for which a site plan for a proposed use has been submitted, the Zoning Administrator, Planning Commission, Zoning Board of Appeals or Township Board may require the applicant to deposit a performance guarantee as set forth herein. The purpose of the performance guarantee is to ensure completion of improvements connected with a proposed use as required by this chapter, including, but not limited to, roadways, lighting, utilities, sidewalks, drainage, fences, screens, walls, and landscaping. A performance guarantee may also be required to ensure the removal of buildings, structures or site improvements that have been abandoned as determined by the Township.
A.
"Performance guarantee" as used herein shall mean a cash deposit, certified check, irrevocable bank letter of credit, or similar instrument approved by the Township Attorney in the amount of the estimated cost of the improvements to be made as determined by the applicant and verified by the Zoning Administrator.
B.
When a performance guarantee is required, said performance guarantee shall be deposited with the Township Treasurer prior to the issuance of any permits by the Zoning Administrator for the development and use of the land. Upon the deposit of the performance guarantee, when in the form of a cash deposit or certified check, the Township shall deposit it in an interest-bearing account.
C.
In the event a performance guarantee is required, the applicant and property owner shall also authorize the Township to enter upon the subject property to complete or remove the improvements at the cost of the applicant in the event of default by the applicant and/or property owner. If the amount specified by written notice is not paid within 90 days, it shall become a lien against the property and will be certified as an assessment against the property.
D.
An approved site plan or project shall also prescribe the period of time within which the improvements for which the performance guarantee has been required are to be completed and, where appropriate, terms for the removal of said improvements. The period will begin from the date of the issuance of the zoning compliance or special land use permit.
E.
In the event the performance guarantee deposited is a cash deposit or certified check, the Township shall rebate to the applicant 50% of the deposited funds when 60% of the required improvements are completed as confirmed by the Zoning Administrator, and the remaining 50% of the deposited funds when 100% of the required improvements are completed as confirmed by the Zoning Administrator. If a request is made by the applicant for a temporary certificate of occupancy without completion of required exterior improvements, the performance guarantee herein required may be applied by said applicant to assure compliance with this chapter standards and the specifications of the approved site plan.
F.
Upon the satisfactory completion of the improvement for which the performance guarantee was required, as determined by the Zoning Administrator, the Township Treasurer shall return to the applicant the performance guarantee deposited and any interest earned thereon, except that the Township shall retain an amount not to exceed 150% the cost of removing an improvement, if required by the Township as a condition of site plan, special land use, or other zoning approval.
G.
In the event the applicant defaults in making or removing the improvements for which the performance guarantee was required within the time period established by the Township, the Township shall have the right to use the performance guarantee deposited and any interest earned thereon to complete or remove the improvements through contract or otherwise, including specifically the right to enter upon the subject property to make or remove the improvements. If the performance guarantee is not sufficient to allow the Township to complete or remove the improvements for which it was posted, the applicant and/or property owner shall be required to pay the Township the amounts by which the costs of completing or removing the improvements exceeds the amount of the performance guarantee deposited. Should the Township use the performance guarantee, or a portion thereof, to complete or remove the required improvements, any amounts remaining after said completion or removal shall be applied first to the Township administrative costs in completing or removing the improvement with any balance remaining being refunded to the applicant. At the time the performance guarantee is deposited with the Township and prior to the issuance of a zoning compliance or special land use permit, the applicant and property owner shall enter an agreement incorporating the provisions hereof with the Township regarding the performance guarantee.