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 city in an amount that does not exceed one-half the appraised value of the area so vacated, except in the event the subject property or portions thereof were acquired at public expense, or the property has been part of a dedicated right of way for twenty-five (25) or more years, 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 City Council; and,
(3) pay all costs for property surveys and engineering services performed by persons or entities other than the city 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.