Virginia Administrative Code › Title 24 - TRANSPORTATION AND MOTOR VEHICLES › Agency 30 - DEPARTMENT OF TRANSPORTATION › Chapter 92 - SECONDARY STREET ACCEPTANCE REQUIREMENTS › Section 24VAC30-92-140 - Surety and fees

Current through Register Vol. 40, No. 24, July 15, 2024
A.
				Policy. Except as otherwise provided herein, the developer shall provide surety
				to guarantee the satisfactory performance of the street, an inspection fee to
				cover the department's cost of inspecting the new street, and an administrative
				cost recovery fee to recover the department's costs associated with the review
				of subdivision or other development plans and the administrative processing of
				the acceptance of new streets as determined in this section. All surety and
				fees collected under this section shall be based on the date of the local
				governing body's request and the aggregate mileage of new streets in that
				request, rounded up to the next tenth of a mile. In the event of extenuating
				circumstances beyond the developer's control, the commissioner or his designee
				may waive all or a portion of any of the surety and fees.
B. Surety. The department reserves the right
				to inspect, or have inspected, the street proposed for acceptance into the
				secondary system of state highways at any stage of construction and prior to
				street acceptance. The developer, contractor, and third-party inspector, if
				applicable, shall cooperate with the assigned VDOT personnel to provide the
				access and information necessary to verify that construction of the street is
				in accordance with the street's approved design and appropriate standards and
				specifications. A determination by the district administrator's designee that
				the required cooperation has not been extended shall be grounds for VDOT to
				refuse to accept the street for maintenance as part of the secondary system of
				state highways. A determination of noncooperation may be appealed as specified
				by this chapter (see
				24VAC30-92-110 ).
1. Type of surety and expiration. The
				developer shall provide surety to guarantee the satisfactory performance of the
				street. In the event the developer fails to provide surety or any of the fees
				described in this section within the 30-day period following the local
				governing body's request for the department to accept the maintenance of a
				street, the department's or other entity's previous final inspection of the
				street shall be considered void and a new inspection shall be required. An
				acceptable surety may be in the form of a performance bond, cash deposit,
				certified check, irrevocable letter of credit, third-party escrow account, or
				other form mutually satisfactory to the department and the developer. Under no
				circumstances shall the department or any agency of the Commonwealth be named
				the escrow agent nor shall funds deposited with the department as surety be
				subject to the payment of interest.
a. Amount
				of surety. The surety shall be $3,000 for each tenth of a lane mile, or portion
				thereof, to be accepted by the department for maintenance as part of the
				secondary system of state highways. The Commonwealth Transportation Board may
				adjust the surety on an annual basis based on increases or decreases in the
				producer price index for highway and street construction materials up to an
				amount not to exceed $5,000 for each tenth of a lane mile or portion
				thereof.
b. Length of surety. The
				surety shall guarantee performance of the street for one year from the date of
				its acceptance into the secondary system of state highways.