[Stormer]

Originally Posted by StealthGirl

The city gets paid unpaid property tax and the cost of filling the hole when the sale goes through. They will actually get paid before any outstanding mortgages on the property.

This is garbage. Fill the damn hole. If these guys don't want the hole filled, then buy it before it is filled. We shouldn't delay filling the hole because a group might want to develop it.

To their credit, the city is looking at a clause in their zoning changes to deal with this sort of crap going forward. The "Performance Security" clause states:

"(1) The Development Officer may require, as a condition of Development Permit approval, a letter of credit, performance bond or any other form of assurance of a value that the Development Officer considers necessary to ensure the development is carried out in accordance with the time frames, development standards and conditions of approval.
(2) The amount of the security required by subsection (1) shall not exceed 100% of the estimated cost to complete the development as determined by the owner based on the information and plans submitted with the development application, provided however that if, in the opinion of the Development Officer, the owner’s estimated costs are inadequate, the Development Officer may establish a higher cost for the purposes of determining the value of the security required."

This is a bad idea. This will slow development even more in this City. We had one problem development that will probably get solved at no cost to the City. Why punish all developers?