The cost of construction of new sidewalks which have not been built and which are required in existing developed areas may be paid for in the same cost sharing manner as replacement sidewalks if volunteering owners so request and if two (2) conditions are met:
1. There are no existing agreements to construct sidewalks; and
2. The owner or owners of the properties adjacent to the public right of way upon which sidewalks would be located agree to participate in the cost-sharing program.