Performance bonds may be required in accordance with Chapter 124, § 8-3 of the Connecticut General Statutes for any final approved site plan. Any such performance bond shall not be released until the Zoning Commission, upon the written statement of the appropriate Town staff, shall have determined that all of the bond conditions have been fully satisfied. No building permit shall be issued until said bond is accepted. The Zoning Commission may allow performance bonds to be posted and released in phases.