No person shall operate a scrap metal facility in the City of Reading except under authority of a valid scrap metal facility license issued by the Codes Enforcement Office, in the name of the person operating the facility and for the specific site of the facility. Every license shall expire on December 31 of each calendar year following its date of issuance, subject to suspension or revocation pursuant to § 460-107 of this chapter. An application for the renewal of a license must be submitted prior to the annual expiration date of the existing license, and operation under authority of the existing license may continue until issuance or denial of the renewal of the license, provided submission of the renewal application is timely.