(A) Prior to filing a complaint of foreclosure or executing a deed in lieu of foreclosure on a residential property located in the city, a creditor shall inspect the property to determine whether the property is vacant. If the property is vacant, the creditor shall, on the same day the complaint of foreclosure is filed or the deed in lieu of foreclosure is executed, register the property as a vacant property with the City Clerk’s Office in which the property is located for the purpose of minimizing hazards to persons and property as a result of the vacancy.
(B) If a residential property becomes vacant at any time after a creditor files a complaint of foreclosure or executes a deed in lieu of foreclosure, but prior to vesting of title in the creditor or a third party, the creditor shall, within ten (10) business days after obtaining knowledge of the vacancy, register the property as a vacant property with the city.
(C) There shall be a fee of $50 per property registered which shall be paid by creditor to the city at the time of registration.
(Ord. 2011-001, passed 1-10-11; Am. Ord. 2011-007, passed 7-11-11)