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<br />TIMING OF PAYMENT OF SHARED INFRASTRUCTURE IMPROVEMENT <br />COSTS <br /> <br />Each Lot shall pay its pro rata share ofthe shared infrastructure improvement costs by <br />paying a fee or constructing improvements. If no improvements are constructed with <br />development of any Lot, or if the cost of those improvements is less than that Lot' s pro <br />rata share. a fee shall be paid. Specific Plan fees equal to each Lot" s pro rata share of the <br />shared infrastructure improvements shall be collected in accordance with the followinl! <br />programs. Final subdivision maps shall include both final maps and parcel maps. - <br /> <br />Financing Program#7. For subdivision of Lots creating new buildable lots. Specific <br />Plan fees shall be paid at the time the first final subdivision map for that Lot is filed for <br />City approval. <br /> <br />Financing Program #8. For existing homes, the applicable Specific Plan fees shall be <br />paid at the earlier of the following times: <br />. at the time a building permit for connection to the shared infrastructure <br />improvement is issued; or <br />. at the time the first subdivision of the Lot occurs. <br />The fees for existing homes are for shared infrastructure improvements only. The costs <br />of on-site water/sewer laterals and connection fees are the responsibility of the <br />homeowner. <br /> <br />Financing Program #9. For non-residential uses. the applicable Specific Plan fees shall <br />be paid at the earlier of the following times: <br />. at the time the first final subdivision map is filed for City approval; <br />. at the time a building permit is issued; or <br />. for the elementary school. at the time the first contract is let for the <br />school site or building improvements. <br /> <br />CALCULATION OF FEE AND ADJUSTMENTS <br /> <br />The Specific Plan fee is required to be first set and then adjusted to ensure that all the <br />shared infrastructure will be financed. This requires initial estimates of costs followed by <br />adjustments as improvements are constructed, as plans are refined. and as costs are <br />affected over time. <br /> <br />Financing Program #10. The initial fee shall be based on the estimated costs for each <br />shared infrastructure improvement, the land uses shown in the Specific Plan. and the <br />coefficients for adjusting for the non-residential uses shown in the Specific Plan. The <br />initial fee shall be established for any Lot based on the following formula: <br /> <br />6 <br />