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Example 12B. Clty installs Part S water improvements after al! Part 1 development occurs: these improvements cost 520.000 more than the initial estimate. The actual cost of these water improvements are used in determining the fees jot development in all areas except Parr 1, which has paid. fees fiased on the initial estimate. Example 11C. Lot 9 develops in June 1000, paying its total,fee. /n Septenrfier. developer of Lot 13 installs a portion of Part 2 infrastructure at 2S% mare cost than the initial estimate. Lot 9 developer or (future homeowners lrilhin Lot 9 :c development) do nor owe any additional jee. The Lot 23 jee is adjusted to reflect the increase in the actual cost ojthe Part 2 infrastructure, with the a•edit acllusted to equal the full actual cost. This increase is also allocated to a!1 j:tture development. Financing Program #13. Estimated costs for each unbuilt shared infrastructure improvement shall 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. Example 13A. Water mains are estimated to cost 510, 000. As oflanttarv 1. in Year 2, the ENR index shows a S% increase for water line protects. The Heir estimated cost would be 510, 000 x LOS = SIO, SDO. In Year 2, r,'f the water mains remain unbui/r and tf the ENR rate is 4%, the new cost would fie 510.500 s 1.04 = 510, 920. Financing Program #14. Each year. on January 1, 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. Earample 14A. Developer A installed sewer improvements tirhich cost 530.000 more than his total fee obligation. As ofJanuaty / in }ear 1. DeveloperA it entitled to reimbursement of the 530,000 plus 8% interes[, or 532,400. The 532, 400 figure is used in calculating the fee to be applied to all development in }ear 2. Example 14B. Ciry installs water improvements in Year 1 which cost 5100.000 using Water Fund monies. City is eligible jot reimbursement to the Water Fund at the 8% rate. The fee in Year 2 would ure SI08,000.for the rort q~these x•ater improvements in calculating the Year 1 fee.