Developers argue requiring them to put up a guarantee that the money will be there if they don't follow through with demolition is unfair and another hurdle for already stalled growth. But city council members see it as a way to prevent government from having to step in and pay to tear down unsightly, partially demolished buildings – such as the old warehouse next to the new convention center.
The city spent thousands tearing down the 2,000-square-foot building at 1 Hanover St. after issuing multiple nuisance violations on the half torn down structure that was attracting homeless people.
[...]City staff, the planning commission and the legal department are all advising the council not to pass this new regulation.
[...]Councilwoman Laura Padgett said she is in favor of finding a way to require the financial guarantee.
"If we can do it legally, I think we should," she said.
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