A. The cost to be reimbursed to the applicant shall be limited to the cost of construction, engineering, and right-of-way acquired as part of the project. Engineering shall include surveying and inspection and shall not exceed 13.5 percent of eligible construction cost. Right-of-way acquisition costs are limited to the reasonable market value of land or easements purchased by the applicant from a third party for the improvements.

B. No reimbursement shall be allowed for financing costs, permits or fees required for construction permits, land or easements dedicated by an applicant other than the City, costs which are eligible for systems development charge credits, project management fees or any costs which cannot be clearly documented.

C. No reimbursement shall be allowed for construction costs that occur prior to the formation date of the reimbursement district.

D. A reimbursement fee shall be computed by the City for all properties which have the opportunity to utilize the improvements, including the property of the applicant for formation of a reimbursement district. The applicant for formation of the reimbursement district shall not be reimbursed for the portion of the reimbursement fee computed for the property of the applicant. [Ord. NS-2182, 2012]