It’s a story that’s playing out all over the country: a
housing development is on hold or even abandoned, with much of the work
unfinished, including the erosion control measures.
An article from the Charlotte
Observer documents a growing trend: bond defaults. Mecklenburg County in North Carolina
has recently had 30 defaults on bonds worth more than two and a half million
dollars.
Bonds are required in many cities to guarantee that public improvements
necessary to accommodate the development will be completed: streets, sidewalks,
storm drains, curbs and gutters, and various utilities. The bonds generally must
be in place before construction permits are issued. If the developer defaults,
the bond money is used to complete the infrastructure work. But defaults have
been rare—until recently.
In addition to the unfinished sidewalks, unpaved streets, and other
problems in many subdivisions, erosion and sediment control measures are often
not in place, or, if they are, they’re not being maintained. If the bond isn’t
enough to cover all the work that needs to be done, the city or county often has
to take on the work.
How serious is the problem in your area? Are you seeing “on-hold”
building sites with missing or inadequate erosion and sediment control BMPs?