(A) A reimbursement agreement may be entered into between the town and each party making roadway paving improvements, which include the grading, regrading, paving, repaving and widening of roadways, or the improvement thereof with any treatment designed to provide an improved wearing surface with necessary drainage, sewer inlets, manholes and catch basins, and the construction or reconstruction of retaining walls made necessary by any change of grade incident to the improvement; and, in any case where the improvement is made, if the Board so directs, it may include the construction or reconstruction of curbs, gutters, drains and sidewalks, plus the necessary engineering and administrative cost associated therewith.
(B) The town shall assess the cost of improvements described in division (A) above against any undeveloped property adjacent to the improvements upon application for a zoning permit on that property.
(C) The amount of the assessment shall be the total cost of improvements described in division (A) above divided by the sum of the linear footage on both sides of the improvements, times the linear footage of the property being assessed.
(D) No assessment nor reimbursement of any cost shall be made unless:
(1) The reimbursement agreement is signed prior to beginning of construction;
(2) Contracts are awarded in compliance with provisions of state statutes, with regards to awarding construction contracts by municipalities; and
(3) Ten years have not expired from the date of acceptance by the town of the roadway improvements installed under a reimbursement agreement.
(1985 Code, § 99.01)