(a) The issuance of a demolition permit by the Planning and Zoning Administrator shall be required prior to the demolition of any structure or building in the Municipality. If such demolition is located within the Historic Downtown District, then the demolition permit shall be reviewed by the Board of Architectural Review and will not be issued without the approval of the Board of Architectural Review.
(b) In applying for a demolition permit, the Applicant must deposit with the Municipality a policy or certificate of insurance evidencing that the Applicant or owner has in force not less than $300,000 liability insurance for the protection of adjacent owners and other members of the public.