12.40.020 Reimbursement:
A. Developers who complete municipal street improvements may be reimbursed for a portion of the cost of the municipal street improvements pursuant to RCW 35.72. Reimbursement contracts may be accepted by the city to provide for the partial reimbursement to the developer for a portion of the costs of the project by other property owners as follows:
1. Property owners who own property within the assessment reimbursement area pursuant to RCW 35.72.040.
2. Property owners who have a reimbursement share based upon a benefit to the property owner pursuant to RCW 35.72.030.
3. Property owners who did not contribute to the original cost of the municipal street improvement project.
4. Property owners who subsequently develop their property within fifteen (15) years from the date of City Council acceptance of the municipal street improvements; and which property owners, at the time of their property development, are not required to install similar municipal street improvements because the municipal street improvements are already provided for by the project referred to in the reimbursement contract.
B. The city shall be reimbursed in the same manner as the developer if the city has specified the conditions of its participation in an ordinance. As another alternative, the city may create an assessment reimbursement area on its own initiative, without the participation of a developer; finance the costs of the municipal street improvements; and become the sole beneficiary of the reimbursements that are contributed. (Ord. 2229, 8/9/05; Ord. 1218, 1986)