Bond Information and Forms

Project Bonds

Builders, developers, or owners of public improvements must establish a bond or surety as part of the land development process that remains in place until the public improvements are completed or a maintenance period has been successfully fulfilled. If the builder, developer, or owner fails to meet the obligation to complete public improvements, the Town of Huntersville can use bond monies to complete the improvements.

Categories of Bonds

Construction/Performance bonds: Required when public improvements are shown on approved plans but not yet constructed. These improvements can include trees, landscaping, roadways, pavement, sidewalk, storm drainage infrastructure, Best Management Practices (BMPs), and other infrastructures. These bonds must be established prior to approval of construction plans or signing of a plat. Construction bonds have minimum time period of six months or longer depending upon the improvement(s) required. 

Maintenance bonds: Required when certain public improvements, typically roadways and BMPs, are completed, but the majority of development activities associated with the project have not been completed. Passing field inspections are required before a maintenance bond can be secured.

 A roadway maintenance bond is required once the number of homes built in a subdivision meets the Town’s density requirements (typically 75% to 100% of homes or lots completed) and the Town Board accepts the streets for maintenance. Roadway maintenance bonds have a minimum time period of one year.

A BMP maintenance bond must be established once the water quality BMP as-built has been certified compliant by the engineer of record and approved by the Town. Maintenance bonds have typical minimum time periods of two years depending upon the improvement.  

Types of Bonds

The following are the acceptable methods of providing funds:
  • Letter of Credit (LOC) - prepared by and obtained from a banking institution
  • Cash - a certified bank check or money order, made payable to "Town of Huntersville"
  • Surety - prepared and obtained from an insurance entity

Bond Processing Fees

  • Posting of a new bond $370
  • Bond renewal (each year the Construction Bond is required) $370
  • Bond reduction $370
    A one-time reduction per life cycle of a bond is allowed. A reduction request must be submitted 60 days prior to the bond expiration date.
  • Bond replacement $370
    Process and associated fee applies when:
    • Replacing one type of surety with another type, or
    • If changing principal owners, or
    • Replacing a Construction Bond with a Maintenance Bond.
      Roadway Maintenance Bond process and information must be submitted to the  Town 60 days or more prior to the construction bond expiration date. The RWM bond duration is one year from the date the Town Board accepts the subdivision streets.
  • Final Release of a bond $370

Fees are subject to change.

OBTAINING A NEW BOND

1. All projects must be submitted to the Town Land Development for review. 

2. Submit a request for bond estimate for a project/subdivision by completing the Form BAINSP and submit via:

Town of Huntersville

105 Gilead Rd., Ste 300

Huntersville, NC 28078

Attn: Tricia Peyton

3. Additionally, the Project Engineer must complete a Bond Estimate Form and submit it along with the bond request from Step 2 above. The form should not be signed or sealed until approved. If a plat is required, it should be attached to the request.  

The submitted information will be reviewed and a field inspection performed to verify status of the project. The Bond Administrator will send an email to the applicant with the approved bond amount and the appropriate Guarantee of Installation form.  

4. The applicant must submit the following original documents to secure a bond:

  • the approved, signed and sealed Bond Estimate Form
  • the completed, appropriate Guarantee of Installation form and Attachment
  • the bond itself (Letter of Credit, Cash or Surety)
  • a bond fee for the amount of $370.00, made payable to "Town of Huntersville" or can be paid via the Town website. 

BOND REPLACEMENT, REDUCTION OR RELEASE

1. To reduce, release or replace a bond, the applicant must fill out the Form BAINSP for the project or subdivision and submit the completed form via:

Town of Huntersville

105 Gilead Rd., Ste 300

Huntersville, NC 28078

Attn: Tricia Peyton

2. Once the request and payment is received, the Bond Administrator will inform the proper entities regarding the request. A field inspection is conducted to verify project conditions and the applicant will be notified via email and provided further instructions to complete the request. 

The bond request will not be accepted until all approvals, outstanding fees and requirements are satisfied. 

Please note the bond request may result in a bond amount increase due to current project conditions. 

Land Development Bonds - FAQs

Bond Administration Staff

  1. Tricia Peyton

    Land Development Bond Administrator
    Email Tricia Peyton
    Phone: 704-766-2257