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SubpartBLANDUSEREGULATIONS <br />Chapter106ZONING <br />ARTICLEII.ADMINISTRATION <br />DIVISION4.PERMITS <br />(2) For developments of 100 units or more, $1,000,000. <br />(b) The execution of a bond, letter of credit or other approved financial guarantee payable to <br />the City of La Porte shall serve as a guarantee of proper compliance with applicable <br />maintenance and regulatory standards established under this Code or other applicable <br />law; the security afforded to the City by the filing of a bond, or letter of credit, or other <br />approved financial guarantee shall include, but not be limited to, necessary expenses <br />incurred as part of demolition of buildings that have fallen into disrepair, and other <br />remedial measures as may be necessary to maintain the health, safety and welfare of the <br />tenants and the integrity of the surrounding neighborhood applicable building standards. <br />(c) Each bond, or irrevocable letter of credit or other approved financial guarantee shall be <br />renewable every five years, with evidence of renewal to be furnished to the city, <br />throughout the life of the structure/s. <br />(d) Failure of the owner of a multi-family development to obtain and keep current the bond, <br />or letter of credit or other approved financial guarantee shall be cause for revocation of <br />the ownerÓs certificate of occupancy and/or zoning permit. <br />(e) Each entity seeking to construct a multi-family development is also required to purchase <br />and file with the city proof of insurance for comprehensive general liability policy naming <br />the City of La Porte as an additional named insured in the amount of $1,000,000.00 for <br />the life of the structures of the apartment complex and/or the apartment complex itself. <br />Secs. 106-151150—106-170. Reserved. <br />LaPorte,Texas,CodeofOrdinancesPage32 <br /> <br />