1999 MAY - Laserfiche WebLink

3.40.055 Until paid in full, the amount of reim- bursement that subsequent funding de- velopers owe shall be increased (or de- creased) annually on January 1 by the most recent CPI increase (or decrease). C. Should an individual funding devel- oper install, or agree to install, basic infrastructure improvements, the cost (verified or estimated) of which exceeds that funding developer's azea development impact fees associated with its develop- ment, then any property owner (other than a subsequent funding developer) shall pay the azea development impact fee as pro- vided herein and that fee shall be used to reimburse the funding developer. If more than one funding developer is entitled to reimbursement, the reimbursement shall be split proportionately based on the number of funding developers' lots. D. If a funding developer is entitled to reimbursement, either by a subsequent funding developer or by a property own- er, prior to the construction costs being verified as provided in subsection E of this Section, then the reimbursement shall be based on the engineer's estimate of such costs as set forth in the technical report. 1. Should the verified construction costs be higher than the engineer's esti- mate, the funding developer shall be entitled to recover additional amounts from any subsequent funding developer who has paid the funding developer as provided in subsection B of this Section; should the verified construction costs be less than the engineer's estimate, the funding developer shall refund any money to any subsequent funding developer who has paid the funding developer as pro- 91 vided in subsection B of this Section; 2. Should the verified construction costs be higher than the engineer's esti- mate, the funding developer shall not be entitled to recover additional amounts from any property owner who has reim- bursed the funding developer as provided in subsection C of this Section; should the verified construction costs be less than the engineer's estimate, the funding developer shall have no obligation to refund any money to any property owner who has akeady reimbursed the funding developer as provided in subsection C of this Sec- tion. E. Construction costs shall be verified as follows: within sixty (60) days after a cert~cate of completion for the improve- ments has been filed, the funding devel- oper or property owner who has installed the improvements shall present to the City Engineer a statement of the actual costs of the construction, including reasonable costs of financing the improvements, and related items ("statement of costs"). The City Engineer shall have the right to review all records and invoices related to the facilities to verify the statement of costs. If the City Engineer determines that any costs submitted aze not appropriate, or are unreasonable, the City Engineer shall provide written notice of that deci- sion to deny such costs. If agreement on the statement of costs cannot be resolved to the satisfaction of both the City Engi- neer and the funding developer or proper- ty owner, the City Manager shall make the final determination as to the statement of costs. (Ord. 1772 § 3, 1999) (Pleasanton 5-99)