When required by the provisions of this title, or by condition of approval of a conditional use permit, appropriate security or guarantees shall be provided by the applicant as set forth in this section. A bond, cash deposit or other acceptable security is used to guarantee the proper completion of required improvements, drainage facilities, grading, revegetation, site restoration after use, reclamation and/or the removal of structures, equipment or other materials, preservation of certain site features, or compliance with other provisions of this title or adopted conditions of approval. The Planning Director may determine that a project is not eligible to provide a bond, cash deposit, or similar security to guarantee the completion of uncompleted work if such work is minor in nature, can be reasonably completed in a short time, or is otherwise inappropriate for such performance guarantees. The guarantee shall be a bond, cash deposit or other acceptable security unless otherwise provided in Chapter 9-6. The use of the terms bond, cash deposit, guarantee and security in this section shall all mean guarantees of performance.
(a) Posting. The guarantee is to be posted with the Planning Department, with the City named as beneficiary.
(b) Form of Bond. A surety bond or other guarantee shall be in a form approved by the City Attorney, including default provisions, and shall provide that, in the event suit is brought upon the bond by the City and judgment is recovered, the surety shall pay all costs incurred by the City in such suit, including reasonable attorneys' fees to be fixed by the court.
(c) Amount of Bond. The guarantee is to be of an amount established by the Planning Director equal to the actual cost of completing the specified improvements, restoration, or satisfying conditions of approval; provided, however, that where a guarantee is required by conditional use permit condition of approval to preserve identified site features, the guarantee is to be in such amount as the Planning Commission deems necessary to assure compliance with the applicable condition.
(d) Release of Bond. At the request of an applicant, or before the expiration of a bond or guarantee, the Planning Director will review the project and issue a completion statement if all provisions of this title and conditions of approval have been met. Upon issuance of the completion statement, the guarantee bond or cash deposit will be released. If the Planning Director determines that the project does not meet the applicable requirements, the applicant shall be notified in writing of such deficiencies. A time period for their correction shall be mutually agreed upon by the applicant and the Planning Director, with the security being held until all such requirements are satisfied. Where no agreement is reached following written notification by the Planning Director, or where an agreed time period for completion is exceeded, the bond shall be called.
(Ord. 68 § 9-2.122, 1983; Ord. 552 § 2, 2010)