ORD 1792 - Laserfiche WebLink

improvements which are being accepted or utilized (which represent the allocated share of infrastructure for undeveloped lots of parties other than the Funding Developers in Happy Valley). (B) The Reimbursable Costs of the sewer and water improvements shall be spread between developed Happy Valley lots and undeveloped Happy Valley lots based on existing specific plan densities and prorated based on total cost and number of units served. (ii) City Work: City will construct the core water and sewer system to serve the City' s golf course and all golf course homes as well as the infrastructure for Alisal sewer main to be built in conjunction with the core system (in order to limit multiple in-street projects) (such City-installed improvements to be as described Exhibit "B-2"). A portion of the Reimbursable Costs of these improvements will be reimbursed by the Payment Participants as provided hereinafier. (A) At the time of approval of the final subdivision map for its respective project, each Payment Participant shall reimburse City for its pro rata share (current aggregate estimate $490,152) of Reimbursable Costs of the water and sewer improvements to be installed by City, which represents the sum of existing Happy Valley residents' share of the upsizing of sewer infrastructure and Castlewood lift station ($113,457), upsizing water ($110,825), north Alisal sewer main ($225,520), and minor laterals ($40,350). (B) The Payment Participants' aggregate reimbursement share will be based on total Reimbursable Costs of the City's improvements, calculated in accordance with the following methodology: (I) costs of improvements upsized to add capacity for existing Happy Valley residents will be based on incremental increased cost of materials and any actual incremental increase in labor and engineering, if any, what the Reimbursable Cost of the City' s improvements would have been but for the upsizing to serve existing developed Happy Valley properties, and not be based on total units serviced; and (II) other components of the City improvements which are not upsized but which will serve only existing developed Happy Valley properties will be based on total Reimbursable Costs. (iii) Happy Valley Owners: Individual homeowners in the Happy Valley Area shall pay all costs of design and construction of all sewer and water facilities on their private property, including but not limited to laterals, meters and connection fees, when such individual property owners decide to connect into the sewer and water system. (b) Reimbursable Costs: For purposes of this Agreement, the term "Reimbursable Costs" means the aggregate sum of design and engineering fees, costs and fees incurred in obtaining permits and approvals from state, federal and local agencies (inclusive of City), hard costs of construction paid to third parties, inspection and testing fees, and construction interest actually incurred from the date other Reimbursable Costs are incurred to the date such improvements are accepted as complete by the City. Reimbursable Costs excludes general overhead and administrative costs of the City or Funding Developer. Reimbursable Costs shall also exclude the cost, including but not limited to legal fees and expenses, of acquiring necessary rights- -2 - 10/21/99