Any agreements to reimburse some or all costs of off-site improvements extensions or upsizing of on-site or off-site improvements extension shall address one or more of the following:
(A) Whether or not the improvement must be competitively bid in accordance with A.R.S. § 34-201;
(B) When and according to what processes the improvement becomes the property of the town;
(C) Whether and to what extent any improvement district assessments, in-lieu of assessment fees, connection charges, or development fees charged to developers will be offset by the extra costs of the improvement incurred by developers;
(D) Whether and to what extent developers shall be reserved a specific amount of capacity in the improvement;
(E) The amount of reimbursable costs, after accounting for any offsets for the extra costs to developers (and any capacity in the improvement reserved to developers) and for capacity in the improvement that will remain available for use or connection by the other developers (for which developers should be reimbursed). Engineering costs may be included as reimbursable costs;
(F) The reasonable buy-in fee to charge other developers who use or connect to the improvement;
(G) How such buy-in fees shall be paid to the town and repaid to developers after deduction of a reasonable administrative fee by the town;
(H) That the total of such repayments shall not exceed the amount established in § 155.03(E) above and may be less if sufficient buy-in fees are not collected during the term of the agreement;
(I) That the term of any such agreement shall not be longer than 10 years or when the amount set forth in § 155.03(E) above is reimbursed (whichever is earlier);
(J) That the town has the option to reimburse developers with a credit against development fees, connection charges, improvement district assessments, or in lieu of assessment fees imposed by the town (in which case the town shall reimburse the appropriate fund accounts with the applicable buy-in fees collected);
(K) How and under what circumstances the agreement may be assigned to successors-in-interest;
(L) That such agreements shall be recorded in the office of the Yavapai County Recorder.
(Ord. 05-627, passed 10-27-2005)