RES 00021 - Laserfiche WebLink

Example IOD. Following installation of the Part 3 water line improvements. Lot 27 wishes to connect the existing house to the water system The owner ¢2f Lot 2' would pay a fee equal to 1 existing house x 88, 131 pet' existing home water connection, or88,131. If Lot 27 is later subdivided the existing home water connection fee (as it is then calculated) would be credited against the total fees owed Financing Program #11. As development proceeds in the Specific Plan Area. the costs of shared infrastructure improvements will be adjusted. and the fees owed by any Lot shall be adjusted to reflect any changes. Adjustments to costs shall include the ?oilowing: {a) actual costs incurred by developers installing shared infrastructure improvement components; (b) actual costs of all City-installed infrastructure improvement components: {C) adjustments to initial cost estimates to reflect infiationary cost increases or refinements; (d) interest owed to developers on the reimbursable portion of infrastructure improvement components installed (beyond the developer's pro rata share) at 8%/year; (e) interest owed the City on any City-installed infrastructure improvement component installed with non-Specific Plan funds at 8%/year; and (f) an annual Specific Plan administration fee of $4000/year. The specifics of these adjustments and how they relate to an adjusted fee over time are described in Financing Programs #12-16. Financing Program #12. In the event a developer installs shared infrastructure improvements, the final determination of the Specific Plan fee shall be determined following completion of the construction of the improvements and determination of its actual cost. Actual cost shall be determined by the City Engineer based on developer's record of actual costs and the City Engineer's determination as to the appropriateness of these costs based on ordinary and normal construction practices. The City Engineer's determination shall be final. Adjustments to share infrastructure improvement costs shall operate prospectively only, whether such costs increase or decrease. Example 12A. Developer of Lot 12 installs Part 1 sewer improvements whose actual cost is $50,000 less than the estimate. Its fees will be adjusted as the sewer component of the total costs is reduced by $50,000 and all shares are a4/usted downward accordingly.