When must a locality VSMP authority return or terminate bonds provided by the operator?

The appropriate time for a locality's Virginia Stormwater Management Program (VSMP) authority to return or terminate bonds provided by the operator is upon the completion of all permit requirements. This aligns with the regulations ensuring that operators fulfill all necessary commitments under their permit before any financial securities are released. Completing permit requirements guarantees that the operator has managed stormwater effectively, complied with all necessary standards, and adhered to the conditions that warrant the backing of the bond.

Prior to the completion of these requirements, the locality retains the bond as security to ensure compliance. Releasing this financial assurance is contingent on confirmed compliance with specified regulations, thus safeguarding the locality’s interests while promoting diligent stormwater management practices.