(a) Bond Requirement. In addition to the fees set forth in this Chapter, every owner or building permit applicant, whether an individual, corporation or partnership, erecting, altering or adding a building in this Municipality, at the time of permit issuance, shall post a procedural compliance bond or cash deposit as hereinafter set out to guarantee the satisfactory performance of all of the permit holder's obligations required by the Codified Ordinances of the City and this Building Code in the construction and erection of the building and the site which is the subject of a building permit. Homeowners accepting responsibility for required permits, obtaining the permits and acting as the contractor for work performed on the single family dwelling in which they reside are exempt from the procedural compliance bond requirements.
(b) Bond Amount.
(1) For each SDC occupancy at the rate of: $1,000.00
(2) For each OBC Use Group Occupancy at the rate of: $2,000.00
(c) Bond Form. The bond required by this section shall be posted with the City in cash at the time of the issuance of the permit.
(d) Forfeiture. All or a portion of the bond shall be forfeited if one or more of the following conditions occur:
(1) Such building or structure is not completed within one year from the date of the issuance of the permit; or
(2) Such building or structure is occupied without authorization prior to the issuance of a certificate of use and occupancy; or
(3) All required inspections under this Building Code have not been requested or permitted; or
(4) Any other obligation of the permit holder established by law is not met.
(e) Return. The bond shall be returned to the permit holder upon satisfactory performance of all requirements of this Building Code applicable to the project.
(f) Time Extensions. If the execution and completion of the building or structure or any of its site amenities within the time frame set forth in subsection (d) hereof is unavoidable and found to be justified by the Building Commissioner, the partial or full forfeiture of the bond may be waived and the original bond may stand until full execution and completion of the project within a reasonable time as determined by the Building Commissioner.
(Ord. 2021-122. Passed 9-7-21.)