A. Except as otherwise provided, all building permit fees shall be assessed in accordance with the fee schedule adopted by the city.
B. Applicants for new residential, commercial, and industrial building permits and for pools or accessory structure building permits shall be required to furnish security in the form of a cash or corporate surety bond or letter of credit in the amount set forth in the consolidated fee schedule, adopted by the city to ensure repair and restoration of public improvements damaged during the construction process. So long as the security covers all active projects, a developer may post a revolving security on an annual basis.
C. In the event the applicant fails to timely and fully complete the permitted work in accordance with construction code requirements and the provisions of this title, the city may thereafter use the funds comprising the bond or letter of credit to cause the work to be completed. Any unexpended portion of the security retained by the city, less fifteen percent (15%) of the total cost to complete the work to cover overhead and administrative costs of the city, shall be refunded to the applicant upon timely and satisfactory completion of the work required and compliance with all other construction code requirements and applicable laws. If the funds received from the bond are not sufficient to pay the total cost of completion and the fifteen percent (15%) overhead fee, the applicant shall be obligated to pay to the city all deficiency amounts. The city shall pursue all civil and criminal legal remedies to ensure payment and/or reimbursement for deficiency amounts. Permit fees and any other fees or security required herein shall be paid to the city before a permit may be issued. (Ord. 863, 10-28-2008)