20A - Laserfiche WebLink

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