Sec. 656.1515. - Performance guarantee.

No permit for the construction, replacement or modification of a wireless communication tower shall be issued until the applicant has provided the City with a performance guarantee (proof of which shall be provided to the Coordinator) to ensure that the City has the necessary funds for the following: (a) Tower removal. The owner of any wireless communication tower shall provide to the City an irrevocable evergreen standby letter of credit in a form acceptable to the Office of General Counsel and in an amount equal to the lesser of $25,000 or 150 percent of the estimated cost of removing the tower in the event of abandonment, as evidenced by a certificate of a licensed professional engineer or licensed contractor in the business of removing wireless communication towers. The City may require an increase in the security amount after five-year intervals to reflect increases in the Consumer Price Index. The performance security shall be payable to the City and shall be maintained in effect until the tower and its associated equipment are removed and the City has certified that the owner has met all of its obligations hereunder. (b) Landscaping and screening. In addition to the performance security for removal of an abandoned tower, the owner of any wireless communication tower shall also provide to the City an irrevocable evergreen standby letter of credit in a form acceptable to the Office of General Counsel and in an amount equal to 150 percent of the estimated cost of landscaping and screening the perimeter of the tower site in accordance with this Subpart, as evidenced by a certificate of a professional landscape architect. The performance security shall be payable to the City and shall be maintained in effect for three years or until the City has certified that the owner has met all of its obligations hereunder. (Ord. 2007-561-E, § 2)