Each demolition of a vacant structure requires that the owner hold in escrow with the Village a deposit of ten thousand dollars ($10,000) for a residential structure and seventy-five thousand dollars ($75,000) for a commercial structure. If the amount to be set up in escrow cannot be paid in full, the Village will place a lien on the property for the amount previously specified. The Village will use these funds to complete the plans submitted by the owner if the owner does not comply with the deadlines as previously submitted in the owner's vacant structure 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. 2018-17. Passed 9-13-18.)