The financial security will be released on this schedule:
- After the certificate of occupany has been issued and the City Forester has approved that the Tree Protection Plan has been met, the Forester will inspect the site and calculate the fee owed based on how much trees are preserved or replaced. Half of the original escrow or line of credit, minus this fee, will be released.
- 36 months after the certificate of occupancy has been issued, the applicant must submit a landscape review by a certified arborist indicating planted and preserved trees are still healthy. If any trees are unhealthy, the certified aborist can replace them onsite and the second half of the financial guarantee (minus the fees above) will be released. If the applicant doesn't replace the trees onsite, the City will keep this half of the financial security.