All permanent stormwater facilities and permanent practices shall be required to be substantially constructed, duly inspected, and functional as of the date of issuance of the CO for that particular phase or building, and all stormwater facilities and permanent practices, once built, functioning, inspected, and approved, shall be either dedicated to the Town (or any drainage district formed for this PDA) or made the subject of a stormwater management agreement as duly executed by the developer in a form acceptable to the Town. The determination as to whether to use or proceed by dedication or pursuant to the use of a stormwater management agreement, or some combination of both, shall be made by the Town in its own and sole discretion.