The owner of a Vacant Building shall acquire or otherwise maintain general liability insurance in an amount of not less than three hundred thousand dollars ($300,000) for buildings designed primarily for use as a residential structure, including buildings containing no more than four dwelling units; and not less than one million dollars ($1,000,000) for any other building, including, but not limited to, buildings designed for business or industrial uses, including buildings containing five (5) or more dwelling units. Any insurance policy acquired by the owner as required herein shall provide for written notice to the Code Official and/or the Village Administrator within thirty (30) days of any lapse, cancellation, or change in coverage. Upon request, the owner shall provide evidence of the insurance to the Code Official. The owner of a Vacant Building shall not be required to obtain or otherwise maintain fire/casualty insurance on the structure.
(Ord. 2020-2. Passed 2-24-20.)