(A) The owner of any property required to be registered by this chapter must maintain a policy of liability insurance for the building, and must provide to the Code Enforcement Officer the name, address, and telephone number of the insurance agent and carrier, along with a copy of the certificate or other proof of insurance coverage.
(1) $250,000 minimum liability policy for residential structures;
(2) $500,000 minimum liability policy for commercial structures.
(B) The policy of insurance must require the agent or carrier to provide 15 days' advance notice of cancellation to the Code Enforcement Officer.
(C) These registration fees shall not commence until at least 30 days after the initial notification is mailed by the city. In the event that real estate taxes are current on the property, the city, by its designated Code Enforcement Officer, shall have the authority to determine that the building is listed for sale and being actively and reasonably marketed, and to waive the registration fee for six months, then may waive the registration fee for an additional six months. The determination for waiver may be based upon a determination by the Committee as to whether the listing price for the property is reasonably related to the assessed value of the property.
(Ord. 2019-002, passed 3-11-19) Penalty, see § 100.99