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with the city at the time the building permit is obtained. Requirements for the surety for all applications <br />are outlined below: <br />The city may request a greater financial security, if the city considers that the development site i5 <br />especially prone to erosion or the resource to be protected is especially valuable. <br />Maintaining the financial security. If at anytime during the course of the work this amount falls below <br />50 percent of the required deposit, the dcvcloper shall make another deposit in the amount necessary <br />to restore the deposit to the required amount. <br />If the developer does not bring the financial security back up to the required amount within seven <br />days after notification by the city that the amount has fallen below 50 percent of the required amount <br />the, city may: <br />a. Withhold the scheduling of inspections and /or the issuance of a certificate of occupancy. <br />b. Revoke any permit issued by the city to the applicant for the site in question and any other of the <br />applicant's sites within the city's jurisdiction. <br />Proportional reduction of the financial security. When more than half of the development's maximum <br />exposed soil area achieves final stabilization, the city can reduce the total required amount of the <br />financial security by half, if recommended by the city engineer. <br />Action against the financial security. The city may act against the financial security if any of the <br />conditions listed in subsections (5) a through d of this section exist. The city shall use funds from this <br />security to finance any corrective or remedial work undertaken by the city or a contractor under <br />contract to the city and to reimburse the city for all direct cost incurred in the process of remedial <br />work including, but not limited to, staff time and attorney's fees. <br />a. The developer ceases land disturbing activities and /or filling and abandons the work site prior to <br />completion of the grading plan. <br />b. The dcvcloper fails to conform to any city approved grading plan and /or the stormwatcr pollution <br />control plan as approved by the city. <br />c. The techniques utilized under the stormwater pollution control plan fail within one year of <br />installation. <br />d. The developer fails to reimburse the city for corrective action taken under section 117 102 <br />(6) Returning the financial security. Any unspent amount of the financial security deposited with the city <br />for faithful performance of the stormwatcr pollution control plan and any stormwatcr and pollution <br />control plan related rcmcdial work must be released one full year after the completion of the <br />installation of all such measures and the establishment of final stabilization. <br />(a) If the proposed stormwater treatment system does not provide the required reduction of TSS and or <br />TP in discharges leaving the site then the developer shall provide off -site mitigation to achieve the <br />required reduction. Mitigation project areas are selected in the following order of preference: <br />(1) Locations that yield benefits to the same receiving water that receives runoff from the original <br />construction activity. <br />(2) Locations within the same Minnesota Department of Natural Resource (DNR) catchment area as <br />the original construction activity. <br />(3) Locations in the next adjacent DNR catchment area up- stream <br />(4) Locations anywhere within the permittee's jurisdiction. <br />