3-1-809: OWNERSHIP, MAINTENANCE, AND INSURANCE BY THE PROPERTY OWNER:
The property owner:
   A.   Shall, except if the fine art is placed on city owned property, own such fine art, and if the building is sold, shall transfer ownership of the fine art as an integral part of the sale of the building.
   B.   Shall execute a recordable covenant running with the land, in a form acceptable to the city attorney, regarding the fine art.
   C.   Shall maintain such fine art at the on site location as approved by the fine art commission, unless a different on site location is approved by the fine art commission at the request of the property owner.
   D.   Shall maintain artwork per the guidelines set forth by the artist who created it, or the artist's representative, if applicable.
   E.   May request the ability to remove the fine art at a later date by offering to donate the piece to the city or by paying the original or present day value of the art, whichever is higher ("removed original art value"). In the event that the previously approved fine art (1) is a structural element of the building; (2) cannot be donated to the city; and (3) its removal cannot reasonably be avoided due to construction, reconstruction or an addition to the building, then the property owner may request to apply the removed original art value to the purchase of new fine art to meet the new fine art obligation. As a condition of the approval of the request to remove the original fine art, the property owner must indemnify the city on a form approved by the city attorney against any claim, liability or financial loss that arises from the removal of the original fine art including, without limitation violations of the Visual Arts Rights Act (VARA) and the California Art Preservation Act (CAPA). Such removal request must be reviewed by the fine art commission and approved by the city council. If the piece will be gifted to the city, the owner must provide the city with an endowment for the piece to pay for transport, storage, reinstallation, insurance and maintenance in an amount acceptable to the city council. If there is construction, reconstruction or an addition to the property in conjunction with the request to remove the original fine art, then there will be a new fine art obligation assessed in accordance with the provisions of this article.
   F.   For all fine art installed after January 1, 2015, shall provide an appraised valuation or other evidence of value satisfactory to the fine art commission, of the artwork every five (5) years, to guarantee the work is insured to its proper market value. Any appraisal shall be made by an independent, qualified fine art appraiser and shall be paid for by the property owner. Other evidence of value may include bona fide invoices, auction records, and fine art gallery records.
   G.   Shall maintain in full force and effect at all times, insurance coverage in the amount of the most recent appraised value, insuring such fine art against any loss or damage, including vandalism, in accordance with the provisions of chapter 4 of this title. Annual proof of insurance coverage must be provided to the city.
   H.   Shall, in the event that the artwork is destroyed, stolen, damaged, or lost, resulting in an insurance claim against such loss, use any funds that are paid out to the owner by the insurance company toward the purchase of a replacement work of art, subject to the most current criteria of the fine art ordinance and equal to the insured valuation of the lost work. Alternatively, the property owner has the option to deposit into the fine art fund an amount equal to the insured valuation of the lost work. (Ord. 15-O-2672, eff. 2-6-2015; amd. Ord. 21-O-2837, eff. 7-25- 2021)