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'.' M M <br />the Improvements. The 7 units, plus the 97 units in the <br />Developer's project, shall be the number of units anticipated <br />within the Benefit Area and shall be used to determine the <br />reimbursement from each property owner in the Benefit Area. <br />5. Developer's Share. Developer's share of the cost of <br />the Improvements shall be deemed contributed upon the City's <br />acceptance of the Improvements. <br />6. Calculation of Reimbursement from Other Property Owners. <br />A. Prior to the event described in subparagraph B <br />below, City shall collect from any property owner (other <br />than the Developer). within the Benefit Area reimbursement of <br />$11,387 per single family unit. This reimbursement is based <br />on the Developer's Engineer Estimate to construct the <br />Improvements as shown on Exhibit A and based on an estimated <br />total of 104 new single family units within the Benefit <br />Area. <br />B. Within 60 days after Developer completes the <br />Improvements, Developer shall submit to the City Engineer <br />the actual costs of the Improvements, certified by the <br />Developer. The City Engineer shall review these costs, <br />using a standard of reasonableness. If the City Engineer <br />determines any cost is not reasonable or appropriate, the <br />City Engineer shall adjust the Improvement costs <br />accordingly. After the City Engineer approves the final <br />cost of the Improvements, Exhibit A shall be revised not <br />only to reflect the final cost of the Improvements but also <br />to reflect the then estimated (or approved) single family <br />units (including the Developer's 97 new units) which will <br />benefit from the Improvements. City shall collect from any <br />property owner (other than the. Developer) within the Benefit <br />Area a revised reimbursement per single family unit based on <br />the final cost of the Improvements. That reimbursement <br />shall also be adjusted for interest (see paragraph 7) each <br />January 1 following the year in which the City Engineer <br />determines the final cost of construction. The City will <br />prepare an Exhibit showing the reimbursement, plus interest, <br />after the final cost of the Improvements is approved. <br />C. As to any property within the Benefit Area which <br />develops for non-residential purposes, the Director of <br />Planning shall determine the reimbursement amount. <br />7. Interest. Interest shall accrue on the reimbursement <br />at the rate of 10% per annum. <br />8. Time of Collection. City shall collect the <br />reimbursement from property owners within the Benefit Area at the <br />first occurrence of the following events: approval of any final <br />2 <br />