20A - Laserfiche WebLink

Example IOD. Follox~ing installation of the Part 3 x~ater line improvemetts. Lot 27 x~ishes to connect the existing house to the x•ater system. The ox~ner oJ'Lot ?" would pay a fee equal to 1 existing house z 58,13 /per existing home +rarer connection, or 58,131. /f Lot 27 is later subdivided, the existing home x•ater connection fee (as i1 is then calculated) would be credited against the total jees owed Financing Program #ll. As development proceeds in the Specific Plan Area, the costs of shared infrastructure improvements will be adjusted, and the fees owed by am• Lot shall be adjusted to reflect any changes. Adjustments to costs shall include the following: (a) actual costs incttrred by developers installing shared infrastructure improvement components; (b) actual costs of all City-installed infrastructure improvement components; (c) adjustments to initial cost estimates to reflect inflationary cost increases or refinements; (d) interest owed to developers on the reimbursable portion of infrastructure improvement componenu installed (beyond the developer's pro rata share) at 8%/year; (e) interest owed the City on any City-installed infrastructure improvement component installed with non-Specific Plan funds at 8"/o/year; and (f) an annual Specific Plan administration fee of 54000/yeaz. The specifics of these adjustments and how they relate to an adj usted fee over time are described in Financing Programs #12-16. Financing Program #12. In the event a developer installs shared infrastructure improvements, the final determination of the Specific Plan fee shall be determined following completion of the construction of the improvements and determination of its actual cost. Actual cost shall be determined by the City Engineer based on developer's record of actual costs and the City Engineer's determination as to the appropriateness of these vests based on ordinary and normal construction practices. The City Engineer's determination shall be final. Adjustments to share infrastructure improvement costs shall operate prospectively only, whether such vests increase or decrease. Example 72A. Developer of Lot 12 installs Part 1 sewer improvements whose actual cost is 550,000 less than the estimate. lts.jees will be adjusted as the .rower component of the rota! costs is reduced by 550, 000 and all shares are adju.+•ted downward accordingly.