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Section 14. <br /> Administrative Costs <br /> <br />Up to one percent of the TVTD Fees received by the Treasurer may be used to <br />cover the administrative costs of the Party acting as the Treasurer and other costs <br />associated with the TVTD Fee. Acceptable costs shall be specified in the SEP. <br /> <br /> Section 15. <br /> Credit or Reimbursement for Developer-Constructed Pro!ects <br /> <br />The Parties shall provide in their implementing ordinance or resolution that a <br />developer who constructs all or part of one of the Transportation Improvement <br />Proiects may be eligible for a credit or reimbursement, as provided herein. No <br />credit shall be applied and no reimbursement shall be made until the Parties have <br />been fully reimbursed pursuant to Section 7(d) and (e). <br /> <br /> a. Credit or Reimbursement for Proiect Funded in SEP. A developer <br /> may be eligible for a credit to be applied against payment of the TVTD <br /> Fee if the developer constructs all or a part of one of the <br /> Transportation Improvement Proiects that is, at the time the developer <br /> enters into an agreement for construction of such proiect, included in <br /> the priioritization plan of the SEP as a proiect to be funded. <br /> <br /> A developer may be eligible for a reimbursement if the cost of <br /> constructing such a Transportation Improvement Proiect, or a part of <br /> such proiect, exceeds the amount of the TVTD Fee to be paid by the <br /> developer. The amount of reimbursement shall equal the difference <br /> between the cost of constructing all or a pan of the Transportation <br /> Improvement Proiect and the TVTD Fee for the development proiect. <br /> Reimbursement shall be from TVTD Fee revenues only, and the right <br /> to reimbursement shall terminate ten years from the date the <br /> developer entered into the agreement.for construction of the proiect. <br /> <br /> The amount of the credit, or the credit and reimbursement together, <br /> shall be in an amount equal to the cost of the Transportation <br /> Improvements Proiect or portion thereof, as set forth in the SEP, and <br /> shall be calculated by the Public Works Director or City Engineer of <br /> the Party granting the credit (and approved by the TVTC Technical <br /> Advisory Committee). The credit, or the credit and reimbursement <br /> <br /> Joint Exercise .of Powers Agreement Page 17 of 22 <br /> TVTD Fees for Traffic Mitigation April 24 1998 <br /> <br /> <br />