Work session debates bond multiplier and timeline in temporary-replacement exception
Staff proposed editing exception 3 to lengthen the temporary replacement window and to give code officials guidance for bond amounts (example: 5x replacement cost). Council members questioned whether a high multiplier exceeds normal bonding practice and asked staff/legal counsel for limits and alternatives.
The full story
Staff proposed edits to exception 3 — which allows temporary like-for-like equipment replacement for failing systems — that would (a) extend an allowable replacement window in some proposals from 48 to 72 months and (b) provide a formula for code officials to set bond value as a multiple of the replacement project's design and construction cost.
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