18.04.060 Compensating Town.
No street or alley, or any part, shall be vacated, and no vacation shall become effective until the owners or owner of the fee title to the property abutting upon the street or alley, or any part thereof, sought to be vacated, shall:
(1) compensate the Town in an amount as established by the Town Council which does not exceed one-half of the appraised value of the area so vacated, except in the event the subject property or portions thereof were acquired at public expense, compensation may be required in an amount equal to the full appraised value of the vacation; and,
(2) upon application for a vacation or partial vacation pay a non-refundable application fee as established by resolution of the Town Council; and,
(3) pay all costs for appraisals, property surveys and engineering services performed by persons or entities other than the Town in connection with the petition for vacation or partial vacation; and,
(4) pay all filing and recording fees incurred in connection with the petition for vacation or partial vacation. (Ord. 269-N, §7, 1999)