Temporary certificate of occupancy guarantee. In the event that a developer shall seek a temporary certificate of occupancy for a development, unit, lot, building, or phase of development, as a condition of the issuance thereof, the developer shall furnish a separate guarantee, referred to herein as a temporary certificate of occupancy guarantee, in an amount equal to 120% of the cost of installation of only those improvements or items which remain to be completed or installed under the terms of the temporary certificate of occupancy and which are required to be installed or completed as a condition precedent to the issuance of the permanent certificate of occupancy for the development, unit, lot, building or phase of development and which are not covered by an existing performance guarantee. Upon posting of a temporary certificate of occupancy guarantee, all sums remaining under a performance guarantee, which relate to the development, unit, lot, building, or phase of development for which the temporary certificate of occupancy is sought, shall be released. The scope and amount of the temporary certificate of occupancy guarantee shall be determined by the Township Engineer. At no time may the Township hold more than one guarantee or bond of this type. The temporary certificate of occupancy guarantee shall be released by the Township Engineer upon the issuance of a permanent certificate of occupancy with regard to the development, unit, lot, building, or phase as to which the temporary certificate of occupancy relates. The projected cost of the temporary certificate of occupancy guarantee shall be provided by the applicant. It shall include items such as, but not limited to, sidewalks, landscaping and street trees at the subject property, roadways (including surface course) from the property to the fully improved roadway; water and sewer infrastructure from the property to the main, stormwater conveyance to serve the property, stormwater management structures/basins for the current project phase. When uncompleted community facilities, such as recreation, are to be included in the temporary certificate of occupancy guarantee, it shall be required to the point of 50% occupancy. Each of these items shall apply for residential and nonresidential projects requiring a temporary certificate of occupancy. The temporary certificate of occupancy guarantee shall be released by the Zoning Officer, Municipal Engineer, or other municipal official designated upon the issuance of a permanent certificate of occupancy with regard to the development, unit, lot, building, or phase as to which the temporary certificate of occupancy relates.
[Added 5-9-2018 by Ord. No. 6-2018]