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Ordinance No. 1772 <br />Page 10 <br /> <br /> owe shall be increased (or decreased) annually on January 1 by the most <br /> recent CPI increase (or decrease). <br /> <br /> C. Should an individual Funding Developer install, or agree to install, basic <br /> infrastructure improvements, the cost (verified or estimated) of which <br /> exceeds that Funding Developer's Area Development Impact Fees <br /> associated with its development, then any property owner (other than a <br /> subsequent Funding Developer) shall pay the Area Development Impact <br /> Fee as provided herein and that Fee shall be used to reimburse the Funding <br /> Developer. If more than one Funding Developer is entitled to <br /> reimbursement, the reimbursement shall be split proportionately based on <br /> the number of Funding Developers' lots. <br /> <br /> D. If a Funding Developer is entitled to reimbursement, either by a subsequent <br /> Funding Developer or by a property owner, prior to the construction costs <br /> being verified as provided in Section 3.40.055 E, then the reimbursement <br /> shall be based on the engineer's estimate of such costs as set forth in the <br /> Technical Report. <br /> <br /> 1. Should the verified construction costs be higher than the engineer's <br /> estimate, the Funding Developer shall be entitled to recover additional <br /> amounts from any subsequent Funding Developer who has paid the Funding <br /> Developer as provided in subsection B of this section; should the verified <br /> construction costs be less than the engineer's estimate, the Funding <br /> Developer shall refund any money to any subsequent Funding Developer <br /> who has paid the Funding Developer as provided in subsection B of this <br /> section; <br /> <br /> 2. Should the verified construction costs be higher than the engineer's <br /> estimate, the Funding Developer shall not be entitled to recover additional <br /> amounts from any property owner who has reimbursed the Funding <br /> Developer as provided in subsection C of this section; should the verified <br /> construction costs be less than the engineer's estimate, the Funding <br /> Developer shall have no obligation to refund any money to any property <br /> owner who has already reimbursed the Funding Developer as provided in <br /> subsection C of this section. <br /> <br /> <br />