Each demolition of a vacant building requires that the Owner deposit in escrow with the Village ten thousand dollars ($10,000). If the amount to be paid into escrow cannot be paid in full, the Village will place a lien on the property for the full ten thousand dollar deposit amount. The Village will use these funds to complete the plans submitted by the Owner in the event that the Owner does not comply with the deadlines in the Owner's approved vacant building plan or, in the Village's discretion, to pay for demolition of the building. Any remaining escrow funds will be released upon completion of the work, minus any and all fees owed to the Village.
(Ord. 16-127. Passed 10-13-16.)