12.36.080 Reimbursement assessments.

(1)    Any reimbursement assessment shall be a pro rata share of costs of construction and contract administration of the improvement. The reimbursement share shall be determined by using a method of cost apportionment which is based upon the benefit to the property owner from the project.

(2)    A separate account shall be established for each assessment reimbursement area.

(3)    No assessment reimbursement shall become payable to the owner or county under the assessment reimbursement contract until the property assessed is subject to development as defined in Section 40.100.070; and the ordinance forming the area shall provide that payment of the assessment is a condition of the issuance of any permit or approval of development of the property assessed. Assessment reimbursement contracts filed for record in the Clark County auditor’s office within thirty (30) days of the final execution of the ordinance forming the assessment reimbursement area shall be binding on all owners of record within the assessment reimbursement area who are not party to the assessment reimbursement contract for the duration of the assessment reimbursement contract which may not exceed fifteen (15) years. The treasurer is designated to collect and reimburse assessments under this chapter.

(4)    If the actual costs of the project are less than the cost base utilized in determining assessments, assessments shall be adjusted downward to reflect actual costs. If the costs of the project are more than the cost utilized in determining assessments, the owner shall be responsible for payment of such excess. (Sec. 8 of Ord. 1991-09-21A)