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Requirements for Use of Irrevocable Letter of Credit

In lieu of giving the city a monetary deposit for a Temporary Certificate of Occupancy, an Irrevocable Letter of Credit may be submitted per the following:

  1. The original permit fee needs to be at least $35,000.
  2. The attached letter format (DOC/31kb/1p) MUST be followed. 
  3. Bring completed letter from the bank to One Stop Shop, 7447 E. Indian School Rd., Scottsdale, AZ 85251; open 8:00a.m. to 5:00p.m. M,T,TH,F and 9:00a.m. to 5:00p.m. WED.
  4. Responsible party will be required to fill out and sign Temp Electric/Temp C of O application. The City retains the original letter from the bank and provides the responsible party with a copy.
  5. Temp applications and cash transmittal will reflect amount AND state that the letter of credit is being used.
  6. Paperwork is reviewed by the PNT Chief Development Officer and may be sent to the City's Legal Department for review.
  7. Upon acceptance, Inspections will schedule the necessary inspections. Please factor approximately three (3) working days for review and acceptance of the letter.
  8. Upon final approvals of project (final C of O or Shell letter), the PNT Chief Development Officer will issue a letter stating bank can release funds.

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