A.   The town shall establish cost recovery for public improvements based upon the benefit to the development. Such methods may include comparative area or distance of a development benefited by a public improvement, comparative population or housing density of the development benefited by the public improvement, the trip generation rate, or other methodology for calculating approximate use of the public improvements, and such other methods as the town may establish from time to time that are based upon the reasonable benefit conferred on a development by a public improvement. Cost recovery obligations shall be based on the following:
      1.   Street Improvements. Except as otherwise provided in subsection (2) below, the owner or developer of property abutting a street constructed and paid for by another party shall pay a proportionate share of the cost of said street, determined as follows:
         a.   For streets up to forty-eight (48) feet in width, as measured from flowline to flowline, exclusive of acceleration and deceleration lanes, the owner or developer shall be required to pay fifty percent (50%) of the cost of the improvements, including street pavement, subbase, storm sewer and other appurtenances, right-of-way costs, curbs, gutters, sidewalks, and acceleration and deceleration lanes adjacent to the development.
         b.   For streets that exceed forty-eight (48) feet in width, as measured from flowline to flowline, exclusive of acceleration and deceleration lanes, the owner shall pay for the cost of constructing twenty-four (24) feet of street improvements, plus the cost of curb, gutter, sidewalk, and any hiker/biker trails, plus the cost of any required acceleration and deceleration lanes adjacent to the development. On designated arterial streets, the town shall fund cost of construction of the remaining portion of the street.
         c.   All drainage and other conduit structures constructed as an integral part of the street shall be considered to be street improvements, and the cost of those improvements may be allocated using the same method as allocating the cost of street improvements. The calculation of recovery costs for other drainage facilities, including storm drainage facilities that are not an integral part of the street construction, shall be established on a case-by-case basis, using a method based upon reasonable benefit to the property.
         d.   The following minimum standards on storm drainage facilities must be met in order for a project to receive consideration for recovery: closed conduit; designed to be able to be used by other properties within the basin; and designed to handle developed flows.
      2.   Bridges, Overpasses and Interchanges. The cost of any bridge, overpass, interchange, or similar street improvement involving grade-separated facilities may be assessed on an area or acreage basis, if council finds that the benefits of a particular improvement are enjoyed by a larger group of property owners than the abutting property owners.
   B.   In the event the town determines that a development is reasonably benefitted more than under the minimum recovery methods above, the town may calculate an alternate method to determine reasonable benefit and recovery costs for a development, provided that there shall be recovered no more than one hundred percent (100) of the costs of public improvements, plus applicable interest.
   C.   All agreements or ordinances created in connection with the construction of a public improvement for which costs have been allocated pursuant to this chapter shall be recorded with the Grand County Clerk and Recorder as a matter of public record. It is the responsibility of every developer to identify those recovery agreements that pertain to their developments.  (Ord. 550, Series of 2021)