(A) Purpose. The purpose of this section is to foster the orderly development and proper planning of areas to be subdivided, and to encourage, without partisanship, the collective subdivision of all adjacent parcels properly includable under one plan or within one subdivision. To this end the Commission may recommend and the Council may approve reasonable measures for reimbursement to a subdivider of the costs incurred by the subdivider in subdividing property, when such costs are incurred at least in part for the ultimate benefit of properties not embraced within such subdivision. The proper development of many areas requires the installation of improvements out of proportion to the property presently being subdivided, and adequate provision shall be made for the eventual spreading of such improvement costs over areas actually benefitted thereby when and if such areas desire to and are ready to avail themselves of such benefits.
(B) Provisions of reimbursement.
(1) Properties not within a subdivision, but abutting improvements made therein at the cost of the subdivider and to be dedicated to the public, shall be precluded from access to or use of such improvements by:
(a) Granting of intervening property in trust to an impartial corporate title holder upon such conditions as the Council shall find and determine to be fair and equitable to each subdivider, to the owners of adjacent properties and to the inhabitants of the city generally or by;
(b) Such other or further means as may be lawful and proper.
(2) The City Clerk shall cause timely notice of all determinations by the Council made within the scope of this section to be sent to the owners of all parcels of the properties deemed by the Council to be in any way benefitted by the improvements to be constructed in the subdivision.
(C) Expiration. Subdivision trusts executed pursuant to this section shall expire at the end of 25 years from the date of recording thereof. Interest at the rate of 12% per annum shall be charged on amounts payable under the terms of such subdivision trusts.
(`83 Code, § 16.24.280) (Ord. 82-19 § 1 (part), 1982)