> Home > Building Resource Center > Applications, Forms, Checklists & Guides > Requirements for Use of Irrevocable Letter of Credit
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:
- The original permit fee needs to be at least $35,000.
- The attached letter format (DOC / 31 kb / 1 pg) MUST be followed.
- Bring completed letter from the bank to Inspection and Land Survey Services, 9191 E. San Salvador, Scottsdale, AZ 85258, 2nd Floor; open 8:00a.m. to 4:30p.m.).
- 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.
- Temp applications and cash transmittal will reflect amount AND state that the letter of credit is being used.
- Paperwork is reviewed by the Inspection Services' Director and may be sent to the City's Legal Department for review.
- Upon acceptance, Inspection and Land Survey Services will schedule the necessary inspections. Please factor approximately three (3) working days for review and acceptance of the letter.
- Upon final approvals of project (final C of O or Shell letter), the Inspection Services Director will issue a letter stating bank can release funds.
