§ 7.1014. Deferment of artwork.

A.

Before the issuance of the first building permit for the development, the Zoning Administrator may enter into an agreement with the property owner(s) regarding installing artwork or paying an in-lieu payment on a deferred schedule. The agreement shall be in a form satisfactory to the City Attorney and recorded against the property. The agreement shall include, but not be limited to:

1.

The property owner's artwork requirements,

2.

The schedule for installing the artwork, and

3.

The penalties for the property owner's breach of the agreement.

B.

Before the issuance of the first building permit for the first phase of a phased development, the Zoning Administrator may enter into an agreement with the property owner(s) regarding paying an in-lieu payment on a deferred schedule. The payment amount shall be pro-rated per phase, based on the building valuation of all buildings for each phase. The agreement shall be in a form satisfactory to the City Attorney and recorded against the property. The agreement shall include, but not be limited to:

1.

The property owner's in-lieu payment requirements,

2.

The schedule for paying the in-lieu payment, and

3.

The penalties for the property owner's breach of the agreement.

(Ord. No. 3987, § 1(Res. No. 8948, § 1(Exh. A, § 26), 11-14-12; Ord. No. 4099, § 1(Res. No. 9439, Exh. A, § 16), 6-18-13; Ord. No. 4143, § 1(Res. No. 9678, Exh. A, § 240), 5-6-14)