(A) Authority. To ensure compliance with this chapter and any conditions imposed under this chapter, in authorizing any zoning permit, special land use approval, or variance, the body or official charged with administering, as designated by this chapter, the respective request may require that a cash deposit, certified check, irrevocable bank letter of credit, or surety bond in an amount authorized by this chapter be deposited with the City Treasurer to insure faithful completion of the improvements. The performance guarantee shall be deposited when the permit is issued authorizing the activity or project. This section shall not be applicable to improvements for which a cash deposit, certified check, irrevocable bank letter of credit, or surety bond has been deposited under the Land Division Act, Act No. 288 of the Public Acts of 1967, as amended, being M.C.L.A. §§ 560.101 to 560.293.
(B) Amount of bond. Unless otherwise specified in this chapter, the Common Council shall by resolution during adoption of the annual budget establish a guideline for the amount of bonds that the Common Council deems adequate for the protection of the city and its inhabitants.
(C) Return of performance bond. Upon the satisfactory completion of specific requirements as attested to by the code official, the City Treasurer shall be authorized to return any improvement or performance bond without interest that may pertain to the specific improvement.
(D) Withholding and partial withholding of performance bond. When the project is not satisfactorily completed, the code official may direct the City Treasurer not to return all or part of any bond; but to apply the bond or part thereof to the project in question. If any action begin and fail to meet full completion based on the approve site plan, or if the project area is reduced in size and action is only partially completed, the code official shall determine the amount of the bond or bonds to be returned to the applicant, without interest, and the amount be applied to the improvements.
(Ord. 497, passed 2-3-2004; Am. Ord. 523, passed 6-13-2006; Am. Ord. 2011-7, passed 12-13-2011; Am. Ord. 2019-02, passed 10-8-2019; Am. Ord. 2020-28, passed 3-3-2020; Am. Res. 2021-46, passed 4-13-2021)