(A) No certificate of appropriateness authorizing construction of a substantial improvement valued $20,000 or higher to an existing dwelling shall be granted until the owner of the lot for which the permit is sought shall provide to the village a cash deposit or a bond in the sum of 10% of the estimated total cost of the improvement, but not less than $2,000 or more than $10,000, conditioned upon the full and faithful performance and compliance with all the provisions of this chapter, and to indemnify the village for any damage to the streets or curbs of the village occasioned by the construction activity.
(B) As used in this chapter, SUBSTANTIAL IMPROVEMENT shall mean any improvement to the exterior of an existing building where the total cost of all improvements to the building is reasonably determined or estimated to equal or exceed $20,000. The cost of all other improvements to or on the building or lot constructed at substantially the same time shall also be included in this estimated cost. In addition, any improvement that requires a curb cut or any other construction activity within the street right-of-way to which such property abuts shall also be considered a substantial improvement.
(C) If the Planning Commissioner determines that the substantial improvement was not completed in accordance with the plan approved by the Planning Commission, the village may retain all or a portion of the bond or deposit.
(Ord. 740, passed 2-18-1997; Am. Ord. 03-2014, passed 8-18-2014)