§ 25-3. Performance security.

(a) Required.

For any development that requires a stormwater management plan under this Division II, a grading or building permit may not be issued until the applicant posts a surety or cash bond, or other means of security acceptable to the Department.

(b) Amount.

The amount of the security may not be less than the total estimated construction cost of the stormwater management facility. This estimate must be prepared by the applicant and submitted with the plan.

(c) Tenor.

The security required by this section must provide for forfeiture on failure to:

(1) complete all work specified in the approved stormwater management plan;

(2) comply with any provision of this Division II or of any other applicable law or regulation; or

(3) comply with any applicable time limitations.

(d) Release.

The security may not be released until:

(1) the Department conducts a final inspection of the completed work;

(2) the applicant submits "as-built" plans to the Department, containing an executed as-built certification block; and

(3) the Department verifies that the stormwater management facilities:

(i) have been completed; and

(ii) comply with the approved plan and this Division II.