If the developer opts to provide Financial Security in lieu of completing required infrastructure improvements prior to recording the Final Plat, a Financial Security Application and cost estimate must be submitted through Online Permit Development Center– the County’s web portal for electronic submittals known as Cityworks. The Online Permit Development Center is designed to streamline processes, allow for online fee collection, and permit staff and applicants to track progress.

“The Itemized Cost Estimate must be prepared by the developer’s engineer and must be submitted on the County’s Itemized Cost Estimate Form and approved by the County’s Infrastructure Inspector or, municipality. Water and sewer acceptance letters must be received prior to the approval of the Final Plat. Cost Estimates for utilities shall include water valve box adjustments and sewer manhole adjustments only. The Financial Security amount shall be based on 125% of the cost estimate approved by the County (or municipality) at the time of acceptance.”

• Itemized Cost Estimate Form
• Financial Security Process
• Financial Security Application
• Escrow Agreement
• Fee Schedule
• Action Plan

Once the Itemized Cost Estimate and the Final Plat have been approved by Subdivision Administration, the developer may post a letter of credit or escrow for the accepted dollar amount of the approved Itemized Cost Estimate. If the developer elects an escrow or letter of credit, the following requirements apply:

The financial institution that issues the LC must

• have a full service branch operating in South Carolina
• be federally insured
• clearly state the branch address where the LC may be presented for draw
• state the beneficiary which is Greenville County
• must set the LC expiration date to the 15th day of either of the following months (nearest to the date of the approved cost estimate): January, March, May, July, September or November.

• A certified or official check issued by a federally insured financial institution must accompany the notarized Escrow Agreement form.

Acceptance of the Financial Security by the County in no way relieves the developer from its obligation to complete the project.

Policy Updates:

• No Longer Accepting Cost Estimates for Utility Completion - 09/16/2019
• Release of Financial Security Policy 9.1.2020
• Financial Security Calendar