Franklin Township, Adams County

"At the time of issuance of the permit for the construction of the SEF, the owner shall provide financial security in the form and amount acceptable to the Township to secure its obligations under this section. [a] The SEF developer shall, at the time of application, provide the Township with an estimate of the cost of performing the decommissioning activities required herein, together with an administrative and inflation factor of 25% to account for the cost of obtaining permits to complete said activities. The estimate may include an estimated salvage and resale value, discounted by a factor of 20%. The decommissioning cost estimate formula shall be: gross cost of decommissioning activities plus administrative factor of 25% minus salvage and resale credit of 80% equals the decommissioning cost estimate. [b] On every fifth anniversary of the date of providing the decommissioning financial security, the SEF owner shall provide an updated decommission cost estimate, utilizing the formula set forth above with adjustments for inflation and cost and value changes. If the decommissioning security amount changes, the SEF owner shall remit the increased financial security to the Township within 30 days of the approval of the updated decommissioning security estimate by the Township. [c] Decommissioning security estimates shall be subject to review and approval by the Township and the SEF developer. The owner shall be responsible for administrative, legal, and engineering costs incurred by the Township for such review. [d] At no time shall the financial security be an amount less than $500,000. [e] The decommissioning security may be in the form of cash, letter of credit, or an investment grade corporate guarantee rated BBB-/Baa3 or better by S&P, Moody's, or AM Best, as applicable. [f] Prior to approval of any plan or permit for an SEF, the SEF developer shall enter into a decommissioning agreement with the Township outlining the responsibility of the parties under this agreement as to the decommissioning of the SEF."