(A) Required improvements. Where any parcel of land fronts on or abuts any existing or proposed major or collector street as shown on the official map of the city, and where any subdivision or improvement of such parcel will be served by any such streets, and where any such streets have not been opened and improved in accordance with its designation on the official map or if existing, is not improved in accordance with the standards and specifications contained and prescribed in this chapter for such designation, then the applicant shall be required to improve such street for its entire length and width adjacent to such parcel in accordance with the standards and specifications of this chapter pertaining to such street as it is designated on the official map. Such required improvement shall include the base course and surface courses of the roadway pavement, curbs, gutters, water mains, sanitary sewers, storm sewers, street lights and appurtenant facilities constructed in accordance with the terms of these regulations.
(B) Optional payment in lieu of improvements. Any applicant required to improve a street pursuant to division (A) hereof, may, at the city's option, agree to pay to the city, for the cost of such improvement as part of a coordinated program, an amount determined by the following formula:
Amount paid to the city = (a/b) x c, where
a = total cost of the city program to improve the roadway
b = total length in feet of the roadway being improved
c = length in feet of the roadway adjacent to the development
(C) Right to reimbursement from a later adjacent developer (recapture). An applicant required to improve a roadway pursuant to division (A) hereof shall be entitled to reimbursement for a portion of his expenses of such improvement, or payments pursuant to division (B) attributable thereto, from any applicant who shall subsequently seek to subdivide or improve any parcel of land adjacent to said roadway and fronting upon any part of said roadway which has been previously improved either by the former applicant pursuant to division (A) or with funds paid by him pursuant to division (B).
(D) Amount of reimbursement (recapture fee). Any reimbursement due pursuant to division (C) shall be computed on the basis of the following formula:
Amount of reimbursement = (a/b) x c, where
a = total cost to the first applicant to improve the roadway
b = total length in feet of the roadway being improved
c = length in feet of the roadway improved by the first applicant which is adjacent to the parcel of the subsequent applicant together with interest on such amount at the interest rate of the U.S. Treasury 30-year note on the date of completion of the improvement, compounded annually, from the date of the completion of the improvement by the prior applicant (or his payment to the city pursuant to division (B)), to the date of payment hereunder by the subsequent applicant; provided, however, that such interest shall in no event exceed 33% of the original principal amount.
(E) Duty to reimburse prior applicant. When any Applicant should be required to improve any street pursuant to division (A) hereof, but for the fact that such street has been previously improved by a prior applicant pursuant to division (A) hereof, such subsequent applicant shall pay to the city, solely for the purpose of reimbursing such prior applicant, an amount as determined by the formula set out in division (D).
(F) Duty of city to pay over. Whenever the city shall receive any funds pursuant to division (E), it shall receive them solely for the benefit of the applicant entitled thereto and shall promptly pay the funds over to such applicant or his designated agent.
(G) Duty to reimburse city. When any applicant would be required to improve any street pursuant to division (A) hereof except for the fact that such street has previously been improved by the city, such applicant shall pay to the city, solely as reimbursement for such improvement, an amount equal to 50% of the cost to the city for improving the street for the length of the applicant's parcel fronting on and abutting the street, together with interest on such amount at the interest rate of the U.S. Treasury 30-year Note on the date of completion of the improvement, compounded annually, from the date of the completion of such improvement to the date of payment by the applicant hereunder; provided, however, that such interest shall in no event exceed 33% of the original principal amount.
(H) Applicant's prior right to reimbursement. When any roadway subject to this section has been improved as part of a coordinated program through the use of city funds and funds paid by one or more applicants pursuant to division (B), any funds received by the city as reimbursement from any subsequent applicant pursuant to division (G) shall be paid over to any former applicant contributing to the coordinated program, up to one-half of their payments pursuant to division (B). Such payments to any such applicant shall be computed in accordance with the following formula:
Amount Paid to Applicant = (a/b) x c, where
a = amount contributed by the specified applicant
b = the amount contributed by all applicants
c = the amount available for payment
Any such payment to any applicant shall reduce, dollar for dollar, the reimbursement to which it might otherwise be entitled under the terms of this section and by such payment the city shall be subrogated, dollar for dollar, to the right of such applicant for reimbursement. In interpreting this section, it shall be assumed to be the intent of the corporate authorities that each applicant which is, or might become, entitled to a reimbursement pursuant to this article shall receive such reimbursement in full before the city shall receive any reimbursement to which it is, or might become, entitled in connection with the improvement of any roadway subject to this section.
(I) Sewer connection permit required. In addition to any other requirements or prohibitions of these regulations, no applicant, owner, subdivider, or developer, nor any contractor, agent or other representative thereof, shall connect to any storm drain or sewer constructed in whole or in part by the city or any applicant pursuant to the provisions and requirements of this section without first securing a permit for such connection from the city.
The application for such permit shall be accompanied by proof of compliance with all applicable terms of this section, including payment of any monies due hereunder or provision for such payment satisfactory to the city. Any connection made without such permit shall be subject to disconnection by the city at the expense of the applicant, owner, subdivider or developer responsible for compliance with the terms of this section. Nothing herein shall be taken to relieve the applicant, owner, subdivider or developer of liability for violations of this section.
(J) Nothing in this section shall be taken nor construed in any manner to vest in any person, firm or corporation any proprietary rights to any roadway presently owned by the city; nor to relieve or excuse any applicant, owner, subdivider or developer from the provisions of these regulations pertaining to the dedication of any street or roadway, whether or not such street or roadway is subject to the provisions of this section.
(Ord. 18-008, passed 2-7-18)