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08/08/02 10:51 FAX 925 AR4 8234
<br />Unconstructed infrastructure: 550,000 + $30, 000,
<br />adjusted for 5% inflation (54, 000) _
<br />City funded infrastructure not using Specific Plan funds, +
<br />adjusted for 8% reimbursement (520, 000 @ 8% interest)
<br />54,000 City administration fee +
<br />(55.000 Fund balance adjusted for interest earned @ 4 %) -
<br />CITY - PLEASANTON Z014/022
<br />Example 16A. Assume the simpl wing assumption of a Specific Plan with 100
<br />units in the Plan Area, with four infrastructure improvements cost 55.000,
<br />515, 000, 530, 000, and 550,000 respectively. In Year 1, Developer A builds 10
<br />units and installs the 55,000 improvement. Developer A pays S5.000 into the
<br />Fund to equal the 510,000 total share his 10 units represent of the total 5100.000
<br />improvement cost. In Year 1 City installs the 515,000 improvement using its
<br />water fund, but its cost is 520, 000. In Year 2, Developer B builds 50 writs
<br />requiring no infrastructure. Developer B will pay afee equal to:
<br />584.000
<br />521,600
<br />S 4,000
<br /><S 5.200>
<br />5104.400
<br />— 90 units remaining = 51,160 /unit, or, for 50 units, 558,000
<br />Example 16B. Assuming the same simplifying assumptions as in Example 16A, in
<br />Year 1 Developer A constructs the 550,000 improvement for 555.000 and builds
<br />20 units. He pays no fee and is eligible for reimbursement of $55.000 — 521.000
<br />= 534,000 (adjusted lot share cost = 51,050; total share is 20 x 51,050 =
<br />521, 000). In Year 3 Developer B constructs the 515.000 improvement for
<br />520,000 and builds 30 units. Developer B pays a fee equal to:
<br />• unconstructed infrastructure 55.000 + S30, 000
<br />• plus Developer B's cost for infrastructure
<br />• plus inflation @ 5% for 2 years for
<br />unconstructed infrastructure
<br />535,000 @ 1.05 x 1.05 - $35,000
<br />• plus balance of reimbursable costs
<br />• plus interest @ 8% for 2 years for
<br />reimbursable costs
<br />534,000 @.1.08 x 1.08 - 534,000
<br />• plus two years' administration fee
<br />• less Fund balance
<br />• divide by remaining lots
<br />(including project) [80 units]
<br />11
<br />• 535.000
<br />• 520.000
<br />= 5 3,588
<br />• 534,000
<br />• 5 5,658
<br />• 5 8,000
<br />_ -- -0 - - --
<br />5106,246
<br />51,328/unit
<br />Thus, Developer B would pay 30 units x 51,328/unit = 539,840, less the credit for
<br />installed infrastructure (520, 000), or a total of 519, 840. This would go into the
<br />Fund Developer A would be eligible for the pro rata reimbursement from
<br />Developer B's payment into the Fund. This would be 30 units' share of the
<br />improvement installed (555, 000), or 30 /100ths of 555,000 = 516, 500. Developer
<br />
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