(A) Upon the receipt of a petition for street improvements, the City Clerk shall examine the petition and certify as to its sufficiency to the City Council. No petition shall be considered for street improvements where streets have been opened after the effective date of this subchapter in violation of § 95.02. In addition, no petition shall be considered for a street less than one normal block in length.
(B) If the petition from the property owners is found to be sufficient, the City Council shall direct the City Engineer to estimate the total cost of the street project in accordance with street specifications, to determine the total cost per foot of property frontage and the total cost to the city for intersections and other improvements, the cost of which is to be borne by the city.
(C) When cost estimates are received, the City Council shall consider the availability of funds for street improvements, the degree of development along the street proposed to be improved, and may approve the street improvement project as it deems best.
(D) When a street improvement project is approved, the property owners abutting the improvement shall be notified of the total estimated cost per foot of frontage and further notified that each owner has the opportunity to pay his or her proportionate share in cash in advance. In addition, the property owners shall be further notified that the project will not be scheduled or construction work started until 80% of the total estimated cost of the entire project is deposited with the city.
(E) When the required amount has been deposited with the city, the street improvement assessment procedure as authorized in G.S. §§ 160A-216 through 160A-239 shall be followed and assessments shall be made against the properties abutting upon the improvement according to an equal rate per front foot. Property owners who have made a cash deposit in advance as required herein shall be credited for the payments on the assessment rolls. In accordance with the requirements of the General Statutes, property owners not paying assessments in cash in advance shall pay their assessments in five equal annual installments which shall bear interest at the rate of 6% per annum.
(F) In the event the actual cost of improvements is less than the estimated cost, the excess shall be refunded to the property owners. In the event the actual cost exceeds the estimated cost, the property owners will be assessed for this amount or may pay the amount in cash in the manner provided by law.
(Res. -, passed 3-20-1975)