(1) The City Council may require the petitioners to compensate the City:
(a) Where the street or alley, or access easement, has been part of a dedicated public right-of-way for 25 years or more, or was acquired at public expense, in an amount that does not exceed the full appraised value of the area vacated.
(b) Where the street or alley, or access easement, has not been part of a dedicated right-of-way for 25 years or more, or was acquired at public expense, in an amount which equals one-half of the appraised value of the area vacated.
(2) Compensation for the vacated areas, and an appraisal and title report as required by PMC 12.40.100 and 12.40.030, may be waived in whole or in part by the City if one or more of the following apply:
(a) The vacation is initiated by the City Council by resolution;
(b) The vacation is at the request of the City;
(c) The right-of-way to be vacated was previously determined by the City Council not to be essential to public traffic circulation and available for vacation;
(d) The grant of substitute public right-of-way which has a value as a right-of-way at least equal to that right-of-way to be vacated; and
(e) The resulting benefit to the community of the project requiring the vacation outweighs the appraised value of the right-of-way to be vacated.