In lieu of requiring full frontage or right of way improvements, including, without limitation, curb and gutter, parking strips and associated landscaping, sidewalk, and paved street improvements, the city may authorize a developer to satisfy street frontage improvement obligations in one of the following ways:
A. Install Improvements: Install a fair share of improvements according to the city engineer's calculations, of the developer's obligation applied to one or more of the full frontage improvements that extend beyond the developer's property to complete a tie-in or to a logical terminus.
B. Form An Assessment Area: Form an assessment area, pursuant to Utah Code Annotated, to complete the developer's fair share of improvements and additional improvements to benefit the neighborhood.
C. Pay Assessment: Place funds in an escrow account equal to the estimated cost, as determined by the city engineer's calculations, and as approved by the city council, of the developer's obligation for frontage improvements. Such funds shall go to the installation of street and frontage improvements in projects determined by the city according to its discretion of priority. Placement of the funds into an escrow account shall not be construed to imply or guarantee to the developer a specific time when improvements will be installed on the frontage or right of way with funds from a city sponsored improvement project. However, such escrow shall exempt the developer from participating in a special improvement district formed by the city for the same improvements. Any interest which may accrue on escrowed funds shall be available to the city for use in the improvement project. (Ord. 1132, 2-17-2015)