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Upon compliance with this chapter, an Owner/Applicant who constructs utility improvements may receive latecomer reimbursement from Owners of real property abutting the utility improvements who:

A. Did not contribute, in whole or in part, to the original cost of the utility improvements;

B. Are within the reimbursement area that is established under this chapter;

C. Have been assessed a reimbursement charge under this chapter; and

D. Within fifteen (15) years after the execution of the latecomer reimbursement agreement, either connect such real property to the water or sewer improvements or use the stormwater improvements.