If the commission allows the owner, lienholder, or mortgagee more than 90 days to complete any part of the work required to repair, remove, or demolish the building or structure, the order shall require the owner, lienholder, or mortgagee to regularly submit progress reports to the commission to demonstrate compliance with the time schedules established for commencement and performance of the work. The order may require that the owner, lienholder, or mortgagee appear before the building official to demonstrate compliance with the time schedules. If the owner, lienholder, or mortgagee owns property, including structures or improvements on property, within the municipal boundaries, that exceeds $100,000.00 in total value, the commission may include in the order a requirement that the owner, lienholder, or mortgagee post a cash or surety bond in an amount adequate to cover the cost of repairing, removing, or demolishing a building or structure under this division. In lieu of a bond, the commission may require the owner, lienholder, or mortgagee to provide a letter of credit from a financial institution or a guaranty from a third party approved by the commission. The bond must be posted, or the letter of credit or third party guaranty provided, not later than the thirtieth day after the date the commission issues the order.
(Ordinance 453-10, sec. 108.15, adopted 1/18/11)