§ 3-4. Escrow account.

The Applicant shall pay to the County a fee as set forth in the County's Fee Schedule. The Planning Director and/or Planning Commission reserve the right to obtain engineering, economic impact, aviation impact, or other professional services to aid it in the review of any submitted application. The applicant shall reimburse Carteret County for the cost thereof prior to receiving the decision of the Planning Commission on the application.

3.4.1

The Applicant shall reimburse the County for all oversight expenses incurred related to the Wind Energy Facility (WEF), from application through decommissioning. This reimbursement will be from an Escrow Account.

3.4.2

These WEF-related oversight expenses include (but are not limited to) amounts required for Building Permits, Licensing, Re-Licensing, and Decommissioning — e.g. administration, engineering, expert health and wildlife evaluations, handling complaints, legal, etc. "Legal" includes reasonable attorney fees for the County if the County has to sue the Applicant.

3.4.3

Any interest accruing to the Escrow Account shall stay with the account and be considered new principle.

3.4.4

This Escrow Account will be setup by the Applicant at the time of the WEF permit Application. This Escrow Account will be at a financial institution approved by the County, solely in the name of the County, to be managed by the County Finance Director. The Applicant will make an initial deposit of $50,000.00. A WEF Application will not be processed until consent to these terms and proof of deposit has been provided by the Applicant.

3.4.5

If the WEF Application is denied, all Escrow Account funds will be returned to the Applicant, less related expenses incurred by the County. The money will be returned, along with a statement as to these costs, within 30 days of the Application being formally denied or receipt of a Letter of Withdrawal.

3.4.6

This Escrow Account will be maintained during the life of the WEF by the Applicant/Owner/Operator. The Applicant/Owner/Operator will replenish any Escrow funds used by the County within 14 days of being sent written notification (and explanation) of said withdrawals. Failure to maintain the Escrow Account at $50,000.00 shall be cause for revocation (or denial of renewal) of the WEF Permit.

3.4.7

If the WEF is decommissioned to the satisfaction of the County, all Escrow Account funds will be returned to the Applicant/Owner/Operator, less related expenses incurred by the County. The money will be returned, along with a statement as to these costs, within 30 days of the decommissioning process being completed.

(Ord. of 11-18-13; Ord. of 2-10-14)

Editor's note

Ord. of 2-10-14 amended § 3-4 and in so doing changed the title of said section from "Fees" to "Escrow account," as set out herein.