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ExamDle 128. City installs Part 5 water improvements after all Part 1 development occurs; these improvements cosr 520.000 more than the initial estimare. The actual cost of these water improvements are used in determining the fees for development in all areas except Part J. which has paidfees based on the initial estimate. Examvle J lC Lot 9 develops in June 2000, paying its totalfee. In September. developer of Lot 23 installs a portion of Part 2 infrastructure at 25% mare CI>.ff than the initial estimate. Lot 9 developer or (future homeowners within Lot 9 '.. development) do not owe any additionalfte. The Lot 23 fee is aqjusted to r~flect the increase in the actual cost of the Part 2 infrastructure. with the credit adiusted to equal the full actual cost. This increase is also allocated to allfll/ure development. Financing Program #13. Estimated costs for each unbuilt shared infrastructure improvement shaJl be adjusted annually on January 1 by the City Engineer based on the inflation factors found in the Engineering News Record for the most closely associated construction projects. Examvle 13A. Water mains are estimated to cost SIO.OOO. As q{ January 1. in Year 2. the ENR index shows a 5% increase for water line pro;ects. The new estimated cost would be SIO.OOOx 1.05 = SIO, 500. In Year 2. ((the water mains remain unbuilt and if the ENR rate is 4%, the new cost would be S1O.500 x 1.04 = $10,920. Financing Program #14. Each year. on January I. the interest for the past year or years owed to any developer entitled to reimbursement (Financing Program #20) or to the City for improvements made with funds other than Specific Plan fees shall be added to the total cost used in determining that year' s Specific Plan fee. Examvle 14A. Developer A installed sewer improvements which cost S30. 000 more than his /Otal fee obligation. As of January / in Year 2. Del'eloper A is entitled to reimbursement of the S30.000 plus 8% interest. or S32.400. The S32.400figure is used in calculating thefee to be applied 10 all development ill Year 2. Examvle 14B. City installs water improvements in Year I which cost SJOO.OOO using Water Fund monies. City is eligible for reimbursement to the Water Fund at the 8"/0 rate. Thefee in Year 2 would use 5/08.000for the cost of these water improvements in calculating the Year 2 fee. 9