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When is the Bond Calculation Performed?
There are 6 different bonds to determine:
Erosion & Sediment Control Bond - This is determined by Permits upon request for a Land Disturbing Permit.
Utility Defect Bond - Within 14 days of receiving the approved subdivision plan, the Utility Performance Bond is calculated and the Defect Bond amount (15%) is provided to Department of Utilities, Engineering Division. The Utility Performance Bond will be used later as part of the overall performance bond amount required upon plat recordation.
Right-of-Way Bond – Within 21 days of receiving the approved subdivision plan, the Right-of-Way Bond amount should be calculated. If time does not allow for this, it needs to be calculated upon request for a Right-of-Way Permit. The Right-of-Way Bond will be used later as part of the overall performance bond.
Performance Bond – This is calculated upon written request (fax or email).
This includes 2 parts: Right-of-Way Bond amount and the onsite improvements amount. A summary sheet will also be created that includes the composite of all amounts.
Once the Performance Bond is approved and posted, forward a copy of the subdivision agreement to the Permits Engineer with a memo “The plat has been recorded…attached find a copy of the subdivision agreement…in order that you may release the R/W bond.”
Ancillary Bond – Prior to releasing the Performance Bond and going into Defect there are 3 items that may be placed on Ancillary Bond:
- Surface Coarse Asphalt
- Right-of-Way Vegetation
The Ancillary bond amounts are determined as one of the Acceptance items for the Punch list letter.
S&D Defect Bond – Prior to releasing the Performance Bond and going into Defect, the Defect Bond must be posted. The Defect Bond amount is determined as one of the Acceptance items for the Punch list letter.