(A) Drawing of contract. Upon acceptance of final plat, a contract will be drawn between the owner and the town to establish in each individual case the methods of assurance and outlining means of construction improvement and any other matters pertinent to the development of the subdivision. Such contract shall impose no additional requirements not contained in this title.
(B) Reimbursement of improvement cost to developer by other property owners. If the agreement required the developer to construct off site improvements and the Council shall find that other properties shall be benefited by such improvements, the agreement shall contain a provision that the town shall not permit the owners of property so benefited to avail themselves of the improvements until they shall have reimbursed the developer on an equitable basis to be determined by the Council, for their pro rata share of the original cost of the improvements; provided, that no such reimbursement shall be required unless the developer shall have furnished the Council a certified statement of the original cost of the improvements within 30 days after completion thereof; and provided further, that the developer’s right to reimbursement shall terminate not later than five years from date of completion of the specific improvement for which reimbursement is sought.
(Prior Code, § 12-6-4)