Florida Administrative Code › 62 - DEPARTMENT OF ENVIRONMENTAL PROTECTION › 62B - Beaches and Coastal Systems › Chapter 62B-56 - BUREAU OF BEACHES AND COASTAL SYSTEMS - RULES AND PROCEDURES FOR USING SAND-FILLED GEOTEXTILE DUNE CORES (PERMITS FOR CONSTRUCTION AND MAINTENANCE) › Section 62B-56.090 - Financial Assurances

Current through Reg. 50, No. 138; July 16, 2024
(1) Prior to
				issuance of a Notice to Proceed, the responsible entity shall provide the
				Department with financial assurance, as defined in rule
				 62B-56.020, F.A.C., in an amount
				sufficient to cover the cost of dune core removal and restoration of the
				project site, including topography and native beach-dune vegetation, and a
				one-time deferred removal cost, as defined in rule
				 62B-56.020, F.A.C. In the event
				the responsible entity fails to remove and restore pursuant to rule
				 62B-56.160, F.A.C., the
				financial assurance shall be used to conduct such removal and
				restoration.
(2) Proof of financial
				assurance shall be submitted on either Form
				 62B-56.900(10)"Trust
				Fund Agreement" (effective date 6-22-09); Form
				 62B-56.900(11),
				"Payment Bond" (effective date 6-22-09); Form
				 62B-56.900(12),
				"Performance Bond" (effective date 6-22-09); Form
				 62B-56.900(13),
				"Letter of Credit" (effective date 6-22-09); or, Form
				 62B-56.900(14)"Standby
				Trust Agreement" (effective date 6-22-09), as appropriate. These forms are
				incorporated by reference. Copies of forms may be obtained by writing to the
				Department of Environmental Protection, 2600 Blairstone Road, MS 3522,
				Tallahassee, Florida 32399-2400; or at the following website:
www.dep.state.fl.us/beaches
. A
				standby trust agreement must accompany any surety payment bond or performance
				bond or letter of credit.
(3) The
				amount of the financial assurance shall be based on a cost estimate provided by
				an individual qualified to make such an estimate who is not the applicant or an
				employee of the applicant, or associated with the sale, installation, or
				contract for removal, of the geotextile container to be permitted under this
				chapter. The individual providing the estimate may be a professional engineer
				or general contractor licensed in the State of Florida or other person who has
				demonstrated similar qualifications to the Department. The estimate shall
				include the costs associated with removal of the geotextile container and
				restoration of the project site, including topography and native beach-dune
				vegetation, and the cost of a one-time deferred removal, consistent with
				subsection  62B-56.160(6),
				F.A.C., and based on the engineering documents submitted with the application.
				The costs shall be estimated on a per unit basis, with the description of the
				estimates indicated, and shall be submitted on Form
				 62B-56.900(2),
				"Financial Assurance Worksheet" (effective date 6-22-09), as part of the permit
				application. This form is incorporated by reference. Copies of forms may be
				obtained by writing to the Department of Environmental Protection, 2600
				Blairstone Road, MS 3522, Tallahassee, Florida 32399-2400; or at the following
				website:
www.dep.state.fl.us/beaches
.
(4) As part of the permit application, the
				applicant must also submit a written commitment from the financial institution
				or insurance company providing or acting as Trustee of the financial assurance
				that such funds or instruments in the amount estimated on Form
				 62B-56.900(2),
				"Financial Assurance Worksheet" (effective date 6-22-09), will be made
				available to the responsible entity prior to the issuance of the Notice to
				Proceed. This form is incorporated by reference. Copies of forms may be
				obtained by writing to the Department of Environmental Protection, 2600
				Blairstone Road, MS 3522, Tallahassee, Florida 32399-2400; or at the following
				website:
www.dep.state.fl.us/beaches
.
(5) The responsible entity shall revise and
				resubmit the cost estimate, Form
				 62B-56.900(2),
				"Financial Assurance Worksheet" (effective date 6-22-09), every five years from
				the date of permit issuance to adjust for inflation or other changes in costs,
				and shall provide the revised financial assurance to the Department. This form
				is incorporated by reference. Copies of forms may be obtained by writing to the
				Department of Environmental Protection, 2600 Blairstone Road, MS 3522,
				Tallahassee, Florida 32399-2400; or at the following website:
www.dep.state.fl.us/beaches
.
(6) Prior to any transfer of the permit, the
				new responsible entity (transferee) must provide the Department with proof of
				financial assurance to cover the cost of dune core removal and restoration of
				the project site, including topography and native beach-dune vegetation, and
				the one-time deferred removal cost. The new responsible entity's (transferee's)
				financial assurance may be satisfied by proof of the continuation of the
				existing financial assurance.
Rulemaking Authority
					 161.053(20),
					 161.085(5) FS.
					 Law Implemented 161.053(4),
					 161.085(9)
					 FS.
New 6-22-09.