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<br />Example 128. City installs Part 5 water improvements after all Part 1 <br />development occurs; these improvements cost S20.000 more than the initial <br />estimate. The actual cost of these water improvements are used in determining <br />the fees for development in all areas except Part I. which has paidfees based on <br />rhe initial estimate. <br /> <br />Example I2C Lot 9 develops in June 2000. paying its totalfee. In September. <br />developer of Lot 23 installs a portion of Part 2 infrastructure at 25% more cosl <br />than the initial estimate. Lot 9 developer or (future homeowners within Lot 9's <br />development) do not owe any additional fee. The Lot 23 fee is adjusted to r~f/ect <br />the increase in the actual cost of the Part 2 infrastructure. with the credit adiusled <br />to equal rhe full actual cost. This increase is also allocated to allflllure <br />development. <br /> <br />Financing Program #13. Estimated costs for each unbuilt shared infrastructure <br />improvement shall be adjusted annually on January I by the City Engineer based on the <br />inflation factors found in the Engineering News Record for the most closely associated <br />construction projects. <br /> <br />Examvle I3A. Water mains are estimated to cost 510.000. As of.IanuOlJ' 1. in <br />Year 2. the ENR index shows a 5% increase for water line projects. The new <br />estimated cost would be 510,000 x 1.05 = 510,500. In Year 2. ((the waleI' mains <br />remain unbuilt and if the ENR rate is 4%. the new cost would be 510.500 x 1.04 = <br />$10,920. <br /> <br />Financing Program #14. Each year. on January 1. the interest for the past year or years <br />owed to any developer entitled to reimbursement (Financing Program #20) or to the City <br />for improvements made with funds other than Specific Plan fees shall be added to the <br />total cost used in determining that year's Specific Plan fee. <br /> <br />Example 14A. Developer A installed sewer improvements which COSI 530.000 <br />more than his IOtal fee obligation. As of January I in Year 2. Developer A is <br />entitled to reimbursement of the S30,000 plus 8% interest. or 532.400. The <br />S32,400figure is used in calculating thefee to be applied 10 all development in <br />Year 2. <br /> <br />Example 148. City installs water improvements in Year I which cosl 5100.000 <br />using Water Fund monies. City is eligible for reimbursement 10 the Water Fund <br />allhe 8% rate. Thefee in Year 2 would u.ve SI08.000for Ihe cost "{Ihese waleI' <br />improvements in calculating the Year 2 fee. <br /> <br />9 <br />