Financial Assurances
Financial
assurances may be required by the Minnehaha Creek Watershed District (MCWD) to cover potential
liabilities. These include the cost of installing and maintaining
protective measures as described in the permit, as well as the cost of
addressing damage that results from permit noncompliance. For more information, refer to the full Financial Assurances Rule.
FINANCIAL ASSURANCE AMOUNTS
RULE | ACTIVITY/PROJECT AREA | SURETY REQUIREMENT |
Erosion Control
| up to 1 ac (43560ft2) | none |
>1 ac to 5 ac | $1,500 | |
>5 ac to 10 ac | $2,500 | |
> 10 ac | $3,500 +$200/ac over 10 ac | |
Wetland Protection | Wetland alteration | $5,000 +$1,000/ac to a maximum of $15,000 |
Dredging | Dredging | An amount equal to the cost of the project |
Shoreline & Streambank Stabilization | Shoreland or streambank improvement (e.g., riprap, sandblankets, retaining walls, boat ramps, etc.) | $5,000 or the total number of feet of shoreline impacted multiplied by $100 |
| An individual or entity may submit a single form of surety in the amount of $25,000 to cover all permit applications under the Dredging and Shoreline Rules submitted in the District in one year. | |
Stormwater Management for Land Development Projects | Sites requiring ponds | $20,000 per acre foot of dead volume |
Following a District inspection of the project and a determination that it is completed according to the terms of the permit and District rules, the financial assurance will be released.
FINANCIAL ASSURANCE TYPES
Letters of Credit
Performance Bonds
Cash Escrow (Check)
Surety Release Request Form
