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Examvie 12B. City installs Part 5 water improvements qfter all Part 1 <br />development occurs; these improvements cost 820.000 more than the initial <br />estimate. The actual cost of these water improvements are used in determining <br />the fees for development in all areas except Part 1. which haspaid.fees based on <br />the initial estimate. <br /> <br />Examvie ]2C Lot 9 develops in June 2000, paying its total fee. b~ September. <br />developer of Lot 23 installs a portion of Part 2 infrastructure at 25% more cost <br />than the initial estimate. Lot 9 developer or (future homeowners within Lot 9 's <br />developmenO do not owe any additional fee. The Lot 23 .fee is adjusted to rcTflect <br />the increase in the actual cost of the Part 2 infrastructure, with the credit ad/usted <br />to equal the full actual cost. This increase is also allocated to all.fUture <br />development. <br /> <br />Financing Program #13. Estimated costs for each unbuilt shared infrastructure <br />improvement shall be adjusted annually on January 1 by the City Engineer based on the <br />inflation factors found in the Engineering News Record for the most closely associated <br />construction projects. <br /> <br />Example 13A. Water mains are estimated to cost $10,000. As qf Januat3, 1. in <br />Year 2, the ENR index shows a 5% increase for water line projects. The new <br />estimated cost would be $1 O, 000 x 1.05 = $1 O, 500. In ~bar 2, !f the water mains <br />remain unbuilt and if the ENR rate is 4%, the new cost would be S10. 500 x 1.04 = <br />$1 O, 920. <br /> <br />Hnancing Program #14. Each year. on January 1, the interest for the past year or years <br />owed to any developer entitled to reimbursement (Financing Program #20) or to the City <br />for improvements made with funds other than Specific Plan fees shall be added to the <br />total cost used in determining that year's Specific Plan fee. <br /> <br />Example 14A. Developer A installed sewer improvements which cost $30. 000 <br />more than his total fee obligation. As of January 1 in )bat' 2. Developer A is <br />entitled to reimbursement of the $30. OOO plus 8% interest, or$32.400. The <br />832, 400figure is used in calculating the fee to be applied to all develop~nent in <br />)bar 2. <br /> <br />Example 14B. City installs water improvements in )bar I which cost S100, 000 <br />using Water Fund monies. City is eligible for reimbursement to the Water Fund <br />at the 8% rate. The fee in Year 2 would use $108, O00.for the cost c~f these water <br />improvements in calculating the Year 2fee. <br /> <br />9 <br /> <br /> <br />