Precedent to the issuance of a demolition permit, the owner, agent or person with control of the property subject to demolition shall post with the City a performance bond, cash deposit or other surety approved by the City Manager to assure the City that the demolition work will proceed as permitted. The value of the surety shall not exceed the cost associated with the demolition and site restoration. The terms of the surety shall provide that the City may retain or claim the surety proceeds if the permit holder fails to perform the demolition activities in accordance with the permit granted. The value of the surety may be reduced during the course of the demolition work, at the sole discretion of the City Manager, if, in the estimation of the City Manager, sufficient surety remains to assure completion of the demolition and site restoration activity.
(Ord. A-2052. Passed 8-26-96.)