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What is Fiscal Surety?

Fiscal surety deposits are a guarantee that certain improvements will be made during the development process of site plans and subdivisions for the following that the City of Austin determines are in the public's interest:

  • Water & wastewater infrastructure
  • Street construction, transportation, sidewalks, & right of way (ROW)
  • Drainage collection systems, detention & water quality ponds
  • Erosion controls
  • Restoration
  • Landscaping & tree transplants
  • Parkland
  • Developers Agreement

The fiscal surety deposit is paid by the applicant at the end of the review process before the permit is issued. The amount of fiscal surety posted must equal the estimated cost for the City to do the work for which the fiscal surety was required. The Fiscal Surety Office does not determine the amount due nor the release criteria. The fiscal deposit is usually returned to the applicant after completing the project, so please make sure that your contact information is correct.

These deposits are required under the City's Land Development Code (LDC). 

How to Post Fiscal Surety

Follow these steps to post fiscal surety.
 

step 1   Determine deposit amount

You must submit an engineer's estimate for the improvements to your Case Manager or Reviewer, who will approve the amount.
 

step 2   Determine your payment method and gather the required documents

After your deposit amount has been approved, you will need to determine your payment method and gather the required documents based on the method you choose. Please note that all three payment methods are accepted for site plans and subdivisions, but the required documents differ. 

Payment methods accepted

Online and credit card payments are not accepted.

Required documents
Bond

Only original, signed (wet signature) bonds from bonding companies listed on the Surety Bonds-List of Certified Companies (treasury.gov) website will be accepted. 

Bonds must be printed in the city approved format. If you are posting fiscal surety using a bond, you will need the following documents:

Site Plan

For a site plan, using the Fiscal Surety format for Site Plan Bonds is required. 

Subdivision

For a subdivision, using the Fiscal Surety format for Subdivision Bonds is required. 

Subdivision (C8, C8J)

If you are posting fiscal surety for a subdivision (C8, C8J), you will also need the following documents in addition to the Fiscal Surety format for Subdivision Bonds:

  1. Subdivision Construction Agreement (SCA)
  2. Lien search dated within 30 days of posting fiscal surety
    • If there are liens on the property, a lienholder consent form must be completed. The lienholder consent form is located within the SCA. 
  3. Copy of the metes and bounds
Expiration

Bonds don’t usually have expiration dates and should not be canceled without the approval of the beneficiary (City of Austin).

Escrow - Check, EFT/Wire

The fiscal surety deposit may be paid with a check or EFT/wire payment. The funds will be put in an escrow account.

It can take up to two days from the initiation of the payment before it is available for posting.

Subdivision (C8, C8J)

If you are posting fiscal surety for a subdivision (C8, C8J), you will also need the following documents:

  1.  Subdivision Construction Agreement (SCA)
  2.  Lien search dated within 30 days of posting fiscal surety
    • If there are liens on the property, a lienholder consent form must be completed. The lienholder consent form is located within the SCA. 
  3.  Copy of the metes and bounds
Interest Payments

Interest-only payments may be requested annually. Contact the Fiscal Surety Office to request your interest payment.

Letter of Credit

Only original, signed (wet signature) Letters of Credit from banking institutions will be accepted. Letters of Credit from foreign banks are not allowed.

If you are posting fiscal surety using a letter of credit, you will need a Letter of Credit printed in the city-approved format.


Subdivision (C8, C8J)

If you are posting fiscal surety for a subdivision (C8, C8J, you will also need the following documents:

  1. Subdivision Construction Agreement (SCA)
  2. Lien search dated within 30 days of posting fiscal surety
    • If there are liens on the property, a lienholder consent form must be completed. The lienholder consent form is located within the SCA. 
  3. Copy of the metes and bounds
     
Expiration

Letters of Credit should be for at least one year and need to be renewed or extended annually.

The Fiscal Surety Office will send a letter to both the bank and the owner 45 days prior to the expiration date. If a release or renewal is not received 5 days prior to the expiration date, a draw request to the bank will be issued.

 

step 3   Submit documents and fiscal surety deposit

The original signed and notarized Subdivision Construction Agreement (SCA), along with payment, is required before a receipt can be issued. You can either mail the required documents or schedule an in-person appointment to hand deliver them.

Mail Options

Mail original letters of credit, bonds, checks, and other legal documents to either of these addresses:
 

USPS Mail to: Overnight Delivery to:
City of Austin - PDC
Fiscal Surety
PO Box 1088
Austin, TX 78767		 City of Austin - PDC
Fiscal Surety
6310 Wilhelmina Delco Dr
Austin, TX  78752

 

The Permitting & Development Center (PDC) does not have a mail receptacle, so the physical address is only for overnight/express courier service.

Hand Delivery

Schedule an in-person appointment to hand deliver your required posting documentation. In-person appointments are held at the City of Austin Permitting and Development Center. 
 

step 4   Permit issuance

After receiving the required documents and fiscal surety deposit, the Case Manager or Reviewer approves the plan and issues your permit.
 

step 5   Complete improvements

You need to complete improvements as required in your approved plan. 

If you do not complete your improvements and the City makes them on your behalf, the Fiscal Surety Office will transfer the funds from the applicable deposit to the City department that made them.

Currently, there is no time limit for making improvements.
 

step 6   Release of Fiscal Surety deposit or posting

The City Inspector has the authority to release the fiscal surety deposit or posting after inspecting the required improvements. The Fiscal Surety Office cannot release the fiscal surety deposit without approval from the appropriate inspector or City staff.

When the city inspector releases the fiscal surety obligation, the Fiscal Surety Office will send a letter to the applicant and to the banking institution/bonding company. Please make sure that your contact information is correct.

If the property is sold, this does NOT release the requirement for the fiscal deposit. View the Selling the Property section for more information. 

Escrow refunds

Most fiscal surety escrow deposits are refundable with accrued interest after the work is complete. Refund checks can only be paid to the entity that posted the fiscal. Please register as a vendor with the city or contact the Fiscal Surety Office for instructions.

Additional Information

Selling the Property

If the property is sold, this does NOT release the requirement for the fiscal deposit.

If a property is sold, it is the seller’s responsibility to negotiate the fiscal replacement with the buyer. The new owner may replace the fiscal deposit, but the coordination of the replacement of the fiscal deposit is the responsibility of the seller. The new owner can replace the seller’s fiscal surety in any of the acceptable forms of payment. Ownership transfers of fiscal surety escrow are allowed. Please contact the Fiscal Surety Office for the applicable template. 

Once the acceptable replacement is received, the original fiscal will be released.

For subdivisions (C8, C8J), an Assignment & Assumptions is required and will be recorded with Travis County or the county the property is in.

Updating Your Contact Information

Since fiscal surety deposits are usually refundable after project completion, please contact the Fiscal Surety Office if your contact information changes (mailing address, phone number, email). 

Forms and Applications

For the complete list of forms and applications for Fiscal Surety, please visit the Forms and Applications webpage.

Contact and Appointments

Contact

Email the Fiscal Surety Office

Call: 512-974-1441 or 512-974-2591

Mail original letters of credit, bonds, checks, and other legal documents to either of these addresses:

USPS Mail to: Overnight Delivery to:
City of Austin - PDC
Fiscal Surety/Staff Name
PO Box 1088
Austin, TX 78767		 City of Austin - PDC
Fiscal Surety/Staff Name
6310 Wilhelmina Delco Dr
Austin, TX  78752

 

The Permitting & Development Center (PDC) does not have a mail receptacle, so the physical address is only for overnight/express courier service.


Appointments

Fiscal Surety appointments are available to guide you through posting fiscal surety to pay for site plans and subdivision improvements. You can also schedule an in-person appointment to hand deliver your required posting documentation.

Expected Appointment Duration: 30 minutes  

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