A. Actual cost for a project is determined by the affected department heads, based upon the criteria set forth in Section 2.28.030.
B. Initial deposits are determined by the amount of time historically spent on similar projects. Whenever seventy-five percent (75%) of a deposit has been expended and the department determines that the estimated actual cost of the job will exceed the amount deposited, additional deposit of such estimated excess amount shall be required. Notification of additional deposit required will be mailed to the applicant, who shall deposit such additional moneys prior to the date specified in the notice. When additional deposit has been requested, work will be suspended on the project when ninety-five percent (95%) of the deposit previously received has been expended. Projects will not be completed with money due. If the additional deposit is not made by the date specified in the notice the project shall be deemed denied on the date specified without further action on the part of the city.
C. If the department head determines that the estimated actual cost of a job will be less than the initial deposit, a deposit may be required which equals the estimated action cost of the job in lieu of the initial deposit. (Ord. 100 § 5, 1992)