(a) When Required. If, in the opinion of the Director of Building and Housing, or his or her designee, the termination before completion of a proposed filling or grading for the purpose of changing the elevation and contour of the site would create an actual or potential hazard to the public or risk of nuisance to nearby private or public property then prior to issuing the permit, the applicant shall submit a performance or surety bond.
(b) Amount. The bond shall be in an amount adequate to cover the estimated cost by the City to restore the site or to perform the operations under the permit, whichever is greater.
(c) The financial assurances shall comply with the following conditions:
(1) The financial assurance shall be submitted by the applicant prior to making any changes to the grade or contour of the site;
(2) The instrument shall contain an itemized written estimate, in current dollars, of the cost of safe and proper restoration of the site to a nuisance-free condition or completing the project, whichever is greater, and shall be based on a third party conducting the activities;
(3) The City may review, approve, or require revisions to the cost estimate or the financial assurance instrument to assure resources are available to it to abate any nuisance left at the site;
(4) It shall be approved as to form and sufficiency by the Director of Law and shall be in effect until all requirements of this chapter have been fulfilled;
(5) It shall guarantee full and faithful performance of the requirements of City law and satisfactory to the Commissioner of Building and Housing and Director of Law.
(Ord. No. 721-16. Passed 7-13-16, eff. 7-17-16)