3.03.040 Amount to be reimbursed.
A. A reimbursement fee shall be computed by the city for all properties within the reimbursement district that will benefit from the public improvement(s), including the developer’s property. The fee shall be calculated separately for each property and each public improvement. The developer is not entitled to reimbursement of the fee that is allocated to the developer’s property.
B. The cost to be reimbursed to the developer is limited to the cost of engineering, construction, and off-site acquisition of right-of-way. Engineering may include surveying and inspection costs, but it may not exceed 13.5 percent of eligible public improvement construction costs. The developer’s reimbursable right-of-way acquisition costs shall be limited to the reasonable market value of property or easements purchased from a third party that are required to complete off-site public improvements.
C. The developer will not be reimbursed for costs and expenses related to the following:
1. Legal fees;
2. Financing costs;
3. Permits and fees required for construction;
4. Dedications of property or easements by the developer;
5. Costs that are eligible for systems development charge credits;
6. Costs contributed to the public improvement by another public or private entity;
7. Application fees required under BC 3.03.020; or
8. Any cost that cannot be clearly documented. [BC 3.03.040, added by Ordinance No. 4834, 1/17/23]