Laserfiche WebLink
9/20/2018 RCW 35.43.188: Assessment reimbursement accounts. <br />RCW 35.43.188 <br />Assessment reimbursement accounts. <br />A city or town ordering a local improvement upon which special assessments on property <br />specifically benefited by the improvement are levied and collected, may provide as part of the ordinance <br />creating the local improvement district that the payment of an assessment levied for the district on <br />underdeveloped properties may be made by owners of other properties within the district, if they so elect, <br />subject to terms of reimbursement set forth in the ordinance. The terms for reimbursement shall require <br />the owners of underdeveloped properties on whose behalf payments of assessments have been made <br />to reimburse all such assessment payments to the party who made them when those properties are <br />developed or redeveloped, together with interest at a rate specified in the ordinance. The ordinance may <br />provide that reimbursement shall be made on a one-time, lump sum basis, or may provide that <br />reimbursement shall be made over a period not to exceed five years. The ordinance may provide that <br />reimbursement shall be made no later than the time of dissolution of the district, or may provide that no <br />reimbursement is due if the underdeveloped properties are not developed or redeveloped before the <br />dissolution of the district. Reimbursement amounts due from underdeveloped properties under this <br />section are liens upon the underdeveloped properties in the same manner and with like effect as <br />assessments made under this chapter. For the purposes of this section, "underdeveloped properties" <br />may include those properties that, in the discretion of the legislative body of the city or town, (1) are <br />undeveloped or are not developed to their highest and best use, and (2) are likely to be developed or <br />redeveloped before the dissolution of the district. <br />[1988c179§11.] <br />NOTES: <br />Severability—Prospective application—Section captions -1988 c 179: See RCW <br />39.92.900 and 39.92.901. <br />http://apps.leg.wa.gov/rcwtdefault.aspx?cite=35.43.188 1/1 <br />