Street improvements consisting of improving a portion of the north half of Battery Road with city funds shall be reimbursed by the below referenced property owners upon property subdivision, or upon development that causes additional traffic. The assessment shall be in addition to the other permit fees that are due. Every property in the referenced reimbursement area as set forth below shall be assessed a $36.57 per front foot reimbursement fee. The reimbursement fee area shall include the following properties:

The above reimbursement rates shall be adjusted upward commencing on June 1, 2007 by the change in the January to January all West Coast Cities CPI-index issued in 2006 and shall be so adjusted each June1 thereafter using the same index. (Ord. 2235, 9/27/05)