12.55.110 Compensation for street vacation.
(1) The final ordinance passed to vacate a street, alley, public easement, or part thereof, shall not become effective until the owners of property abutting upon the street, alley, or part thereof, provide full compensation to the City.
(2) The amount of compensation owed to the City for the vacated street, alley, public easement, or part thereof, shall be recommended by the Hearing Examiner and shall be determined by the City Council according to the following criteria:
(a) The full appraised value owed for a street of which public funds have been expended, through an approved capital improvement project, for the acquisition or construction of the street or property;
(b) Seventy-five percent of the full appraised value owed for a street for which funds have been expended for improvements and maintenance within five years from the date of the petition;
(c) Fifty percent of full appraised value owed for streets for which no funds have been expended in the acquisition, improvements, and maintenance;
(d) Administrative costs of the vacation owed for street vacation issued as a matter of the laws of 1889-1890 and affirmed by City Council action;
(e) Real property of equal or greater value, or public right-of-way which has value for access, may be accepted in lieu of cash compensation;
(f) Any combination of subsections (2)(a) through (e) of this section may be accepted; provided, that the total value of the combined compensation does not total more than the maximum amount of monetary compensation allowed under subsections (2)(a) through (c) of this section.
(3) When a street is vacated for a governmental agency, compensation shall be in accordance with the classification of the street, except that some or all of the compensation may be waived at the discretion of the City Council if it will fulfill a public purpose. (Ord. 06-12 § 1 (Exh. 1))