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A. Performance Financial Security for Building Permits. Pursuant to Section 111.3 of the International Building Code, the building official may authorize the issuance of a temporary certificate of occupancy conditioned upon the subsequent completion or satisfaction of unfulfilled requirements or regulations, or uncompleted development proposals. A condition for issuance of such temporary permit may be the posting with the city of a performance financial security to ensure fulfillment of all conditions to which such permit is subject. The conditions to which such temporary certificate of occupancy is subject shall be listed upon the permit or attached thereto. No certificate of occupancy shall be issued until all such conditions are satisfied. If the conditions are not satisfied within the date of the deadline specified in the temporary certificate of occupancy, demand may be made by the city against the financial security for completion and performance. Prior to such demand being given, the zoning administrator shall give ample notice to the person or persons involved.

B. Amount of Financial Security. The performance financial security shall be in a form acceptable to the city, and represent one hundred fifty percent of the fair cost estimate of the uncompleted portion of the proposed development or improvements as determined by the zoning administrator.

C. Performance Financial Security for Plats. Financial securities required for plats within the city are governed by MMC 22.68.040.

D. Insurance. Prior to issuing a permit or approving an application, the city may require the applicant to provide a certificate of general liability insurance, with limits of liability in an amount acceptable to the city attorney, from an insurance company authorized to do business in Washington, insuring against injury to persons and damage to property, and may require that the city be named as an additional insured.

E. Record of Certificates – Issued. The zoning code administrator or his/her delegate shall circulate a request for a certificate of occupancy for a change in use to all city departments and shall maintain a record of all certificates of occupancy issued. (Ord. 005/2019 § 10 (Exh. B))