Each demolition of a vacant building requires that the owner hold in escrow with the City a deposit of ten thousand dollars ($10,000) for a residential building and seventy-five thousand dollars ($75,000) for a commercial building. If the amount to be set up in escrow cannot be paid in full, the City will place a lien on the property for the amount previously specified. The City will use these funds to complete the plans submitted by the owner in the event that the owner does not comply with the deadlines as previously submitted in the owner's vacant building plan. Escrow funds will be released upon completion of the work or transfer of ownership, provided that all fees have been paid in full. New owners must sign a form accepting responsibility for completing the
demolition. (Ord. 2017-02. Passed 1-17-17.)