The cost of all public improvements of specific benefit to the area for which there is an adopted specific plan may be distributed among all properties in the plan area based on benefit. City council shall assess the cost of improvements to each property, based on the benefit to that property. The assessment process shall include public hearing affording each property owner affected an opportunity to be heard. The public hearing process may be waived on any parcel where the property owner has voluntarily agreed to the assessment. This agreement shall be recorded and run with the property ownership. The parcel assessment may be collected at the time of building permit issuance and may replace other existing fees where the same improvements are paid for through a new collection method. (Prior code § 7197.6)