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<br />Example 10D. Following instal/otion of the Part 3 water line improvements. Lot <br />27 wishes to connect the existing house to the water system. The owner alLot :- <br />would pay a fee equal to 1 existing house x 58.13 1 pel' existing home Imter <br />connection, or $8.131. If Lot 27 is later subdivided the existing home water <br />connection fee (as it is then calculated) would be credited against the total lees <br />owed <br /> <br />Financing Program #11. As development proceeds in the Specific Plan Area. the costs <br />of shared infrastructure improvements will be adjusted, and the fees owed by any Lot <br />shall be adjusted to reflect any changes. Adjustments to costs shall include the following: <br /> <br />(a) actual costs incurred by developers installing shared infrastructure <br />improvement components; <br /> <br />(b) actual costs of all City-installed infrastructure improvement components; <br /> <br />(c) adjustments to initial cost estimates to reflect inflationary cost increases or <br />refinements; <br /> <br />(d) interest owed to developers on the reimbursable portion of infrastructure <br />improvement components installed (beyond the developer's pro rata share) <br />at 8%/year; <br /> <br />(e) interest owed the City on any City-installed infrastructure improvement <br />component installed with non-Specific Plan funds at 8%/year; and <br /> <br />(f) an annual Specific Plan administration fee of $4000/year. <br /> <br />The specifics of these adjustments and how they relate to an adj usted fee over time are <br />described in Financing Programs #12-16. <br /> <br />Financing Program #12. In the event a developer installs shared infrastructure <br />improvements, the final determination of the Specific Plan fee shall be determined <br />following completion of the construction of the improvements and determination of its <br />actual cost. Actual cost shall be determined by the City Engineer based on developer's <br />record of actual costs and the City Engineer's determination as to the appropriateness of <br />these costs based on ordinary and normal construction practices. The City Engineer's <br />determination shall be final. Adjustments to share infrastructure improvement costs shall <br />operate prospectively only, whether such costs increase or decrease. <br /> <br />Examvle 12A. Developer of Lot 12 installs Part 1 sewer improvements whose <br />actual cost is 550,000 less than the estimate. Itsfees will be ad;usted as the sewer <br />component of the total costs is reduced by 550.000 and aI/ shares are ad;usted <br />downward accordingly. <br /> <br />8 <br />