(A) The applicant shall receive all reimbursement collected by the city for reimbursement district public improvements. The reimbursement shall be delivered to the applicant for as long as the reimbursement district agreement is in effect.
(B) The right of reimbursement is assignable and transferable after written notice is delivered to the city, advising the city to whom future payments are to be made, and after approval of assignment by the city.
(C) The city shall charge an administrative fee to cover the cost of managing the reimbursement district. This fee shall be updated periodically by the City Council but shall be established at $75.
(D) The city shall establish separate accounts for each reimbursement district. Upon receipt of a reimbursement fee, the city shall cause a record to be made of that property’s payment and remit the fee to the person who requested establishment of the reimbursement district or their assignee within 60 days of receipt of the reimbursements minus a $75 administration fee.
(E) The reimbursement fee is in lieu of a local improvement district charge for the improvements installed pursuant to the reimbursement district agreement. The reimbursement fee is not intended to replace or limit any other fee or charge collected by the city.
(F) The applicant shall provide and update applicant’s current address to which reimbursement payments are to be sent.
(Prior Code, § 35.161) (Ord. 1241, passed 4-20-2009; Ord. 1254, passed 1-3-2011)