(A) In the event an owner develops an area bearing the expense of water and sewer mains and facilities, conveys them to the city and agrees to annexation into the city, the city may reimburse said owner 50% of the cost of construction of the water and sewer facilities with the exception of engineering, inspection or service lines or taps.
(B) (1) To receive the reimbursement, the owner must submit a written request for reimbursement to the City Administrator including a project description, drawings, and budget. All requests are subject to the approval of the City Administrator. He/she shall review the request to determine the economic feasibility of the project.
(2) If approved, reimbursement payments will be made annually on a prorated basis. The amount reimbursed will be determined from the total actual construction costs for the project divided by the number of planned services times the number of certificates of occupancy issued during any calendar year beginning on the date of transfer of title of utility facilities to the city and ending on December 31st of the fifth year following the date of transfer of title of facilities. Provided the invoice is approved for reimbursement, the City shall provide payment within 60 days.
(Ord. 02-06-01, passed 6-18-02)