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08/08/02 10:51 FAX 925 "84 8234 <br />CITY - PLEASANTON Q013/022 <br />Financing Program #15. Each year, on January 1, the City shall add $4000 to the costs <br />shown as "Specific Plan Preparation Costs" in Table 2 to provide for on -going <br />administration of the Financing Program, and the fee shall be adjusted accordingly. The <br />City shall transfer any fiords, up to $4000, from the Specific Plan fund to its general fund <br />as of January 1 of each year to cover its costs. Once the Parts 1-4 infrastructure has been <br />completed, the administration fee shall cease, and no further addition to administration <br />fees shall be added to the "Specific Plan Preparation Costs." <br />Financing Program #16. The fee to be charge once development occurs shall reflect <br />adjustments to costs, adjustments to total EDUs (if any), and the balance of development <br />remaining in the Specific Plan Area. The fee for any Lot shall be calculated at the time <br />of payment by adjusting the initial cost formula shown in Financing Program #11 as <br />follows: <br />(a) Include for each shared infrastructure improvement component: <br />(i) only unconstructed shared infrastructure improvements (at <br />estimated costs plus inflation adjustment); <br />(ii) all City - installed infrastructure made with non - Specific Plan funds <br />(at actual cost plus interest adjustment); <br />(iii) all infrastructure to be undertaken by the developer (at actual cost); <br />and <br />(iv) all balances of reimbursements owed prior developers (plus any <br />interest amount). <br />(b) Subtract the fund balance in the Specific Plan fund (if any) for each <br />component from the costs included in (a) above. <br />(c) Divide the resulting sums of (a) and (b) above by the EDUs of all <br />undeveloped Lots, including those of the developer. for each component. <br />(d) Calculate the Lot costs by multiplying each new component cost derived <br />above by the applicable Lot shares for that Lot and sum them for the total <br />cost. <br />The new total cost for that Lot can be then off -set by applying a credit for infrastructure <br />to be undertaken by the developer. <br />10 <br />EXHIBIT C <br />