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<br />Examvle 16A. Assume the simplifYing assumption of a Specific Plan with 100 <br />units in the Plan Area, with four infrastructure improvements cost 55.000, <br />515,000.530,000. and S50.000 respectively. In Year 1. Developer A builds 10 <br />units and installs the 55,000 improvement. Developer A pays 55.000 into the <br />Fund to equal the SID. 000 total share his 10 units represent of the totaI5100.00(} <br />improvement cost. In Year 1 City installs the 515.000 improvement usinK its <br />waterfund. bur its cost is 520.000. In Year 2. Developer B builds 50 units <br />requiring no i'1frastructure. Developer B will pay afee equal to: <br /> <br />Unconstructed infrastructure: 550,000 + 530,000. <br />adjustedfor 5% inflation {54.000} <br />City-funded infrastructure not using Specific Plan funds. + <br />adjustedfor 8% reimbursement (520,000@ 8% interest) <br />$4.000 City administrationfee + <br />($5.000 Fund balance adjustedfor interest earned@4%) <br /> <br />584.000 <br />521.600 <br /> <br />5 -1.000 <br /><55.200> <br />5104.400 <br /> <br />.;- 90 units remaining = SI,160/unit. or,for 50 units. S58,OOO <br /> <br />Examvle 16B. Assuming the same simplifYing assumptions as in Example 16A. in <br />Year 1 Developer A constructs the S50.000 improvementfor $55.000 and huilds <br />20 units. He pays no fee and is eligible for reimbursement of555.000 - S21.000 <br />= 534.000 (adjusted lot share cost = Sl,050: total share is 20x 51.050 = <br />521.000). In Year 3 Developer B constructs the 515.000 improveme/1/fin' <br />S20. 000 and builds 30 units. Developer B pays afee equal to: <br /> <br />. unconstructed il1frastructure 55.000 + 530.000 <br />. plus Developer B's cost for inji'astructure <br />. plus inflation @ 5% for 2 years for <br />unconstructed infrastructure <br />535.000@ 1.05 x 1.05 - 535.000 <br />. plus balance of reimbursable costs <br />. plus interest@ 8%for 2 years for <br />reimbursable costs <br />S34,000@ 1.08 x 1.08 - 534.000 <br />. plus two years' administration fee <br />.. less Fund balance <br /> <br />535.000 <br />= 520.000 <br /> <br />5 3.588 <br />534.000 <br /> <br />55,658 <br />58.000 <br /> <br />:;:: ----o-~-- <br />$106.2-16 <br /> <br />. divide by remaining lots <br />(including project) [80 units} <br /> <br />= <br /> <br />51. 328/unit <br /> <br />Thus. Developer B would pay 30 units x 51, 328/unit = $39,840, less the credit fur <br />installed i'1frastructure ($20.000). or a total of$19.840. This would go into the <br />Fund. Developer A would be eligible for the pro rata reimbursementfrom <br />Developer B's payment into the Fund. This would be 30 units' share oj the <br />improvement installed ($55.000), Or 30/100ths of555.000 = S16.500 Developer <br /> <br />11 <br />