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A would receive $16,500 reimbursement. lfthe remaining inpastructure is listed <br />in Parts 1-4, the Fund balance of $3.340 would remain to be applied toward those <br />improvements. If. however, the), .,ere Part 5 improvements. the S3.340 fund <br />balance would be reimbursed to Developer A. <br /> <br />USE OF FEE <br /> <br />As Specific Plan fees are collected by the City, they will be available for constructing <br />shared infrastructure in accordance with the following principles. <br /> <br />Financing Program #17. Specific Plan Fees collected by the City shall be kept in a <br />segregated Vineyard Avenue Corridor Specific Plan Fund which shall earn interest at the <br />City's LAEF rate. <br /> <br />Financing Program #18. The total fees owed by a developer shall be off-set by the <br />value of any shared infrastructure improvements which the developer has bonded to <br />improve in conjunction with its final map/improvement plans or other vehicle insuring its <br />installation. <br /> <br />Example 18A. Developer A 's total fee obligation is S80.000. Developer A will <br />build shared infrastructure improvements estimated to total S45,000. Developer <br />A willpayafeeof$35,000andbondforthe$45,000improvements. Upon <br />completion of the improvements, if the actual cost is different than the estimated <br />cost. the total fee obligation will be recalculated and the actual cost given as a <br />credit. <br /> <br />Financing Program #19: Fees in the Vineyard Avenue Corridor Specific Plan Fund <br />shall be used for the following purposes in the order listed: <br /> · first, to reimburse developers eligible for reimbursement based on the <br /> pro rata share of that Lot' s share of the infrastructure eligible for <br /> reimbursement. <br /> · second, to assist in the funding/installation of any of the infrastructure <br /> components listed in Parts 1-4 of Table 1. <br /> · thir& to reimburse any developer (other than the City) eligible for <br /> reimbursement; in the event more than one developer is eligible for <br /> reimbursement, any such funds shall be prorated based on the amounts <br /> owed at that time to each developer. <br /> · fourth, to install Part 5 infrastructure as listed in Table 1. <br /> · fifth, to reimburse the City for any costs it has incurred in installing <br /> shared infrastructure improvements using non-Specific Plan Funds. <br /> <br />12 <br /> <br /> <br />