15.03.205 Reimbursement for Street Improvements.
Any person who expends funds to install street improvements (i.e., curb and gutter, sidewalk, asphalt or concrete pavement, road base, sub-base, and geotextile fabric) associated with an approved development may receive reimbursement of part of that expense as follows:
(1) The party installing the street improvements shall enter into a written reimbursement agreement with the City prior to street improvements being installed.
(2) The amount of the reimbursement shall be limited to those improvements installed by the developer which:
(a) Provide a direct benefit to property adjacent to said improvements; and
(b) Are greater than the roughly proportional share of improvements needed to service the development.
(3) If within ten (10) years from the date of the reimbursement agreement, a party develops property adjacent to the street improvements described above, the developer who installed the street improvements shall at the time of completion of the development receive a reimbursement from the City in the amount described in Subsection (4) of this Section. The developer of property adjacent to previously installed street improvements shall pay to the City the amount for said street improvements described in Subsection (4) of this Section. The money paid by the developing party pursuant to this Section is separate from and in addition to the payment of any other street related fees. In no event shall the amount of reimbursement exceed the amount actually collected by the City from the developer.
(4) The reimbursement payment for street improvements, i.e., curb and gutter, sidewalk and pavement (including asphalt, concrete, road base, sub-base and geotextile fabric), shall be at the rate per lineal foot of frontage as shown on the Consolidated Fee Schedule adopted by the Municipal Council. In addition, Provo City shall collect an additional administrative fee as shown in the Consolidated Fee Schedule.
(5) If Provo City installs street improvements at City expense, the City may receive reimbursement from developing parties pursuant to this Section as though the City were a private party. The agreement described in Subsection (1) of this Section shall not be required for reimbursement to the City.
(6) The reimbursement payment described in Subsection (3) of this section shall be paid to the City in its entirety prior to final plat approval. The rate of reimbursement per frontage foot shall be that rate which is in effect at the time of payment.