(A) The Planning Commission and City Council shall have the authority to require a performance bond or other security when it is deemed necessary.
(B) Except in the case of non-income producing residential property, upon approval of a conditional use permit, the city may be provided with a surety bond, cash escrow, certificate of deposit, other securities, or cash deposit prior to the issuing of building permits or initiation of work on the proposed improvements or development. The securities shall guarantee conformance and compliance with the conditions of the conditional use permit, and the ordinances of the city.
(C) The security may be in the amount of the City Council’s estimated costs of labor and materials for the proposed improvements or development. The project can be handled in stages upon the discretion of the City Council.
(Ord. 199, passed 2-7-2000)