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,08/08/02 10:52 FAX 925 484 8234 <br />CITY - PLEASANTON Q 015/022 <br />A would receive S16.500 reimbursement. If the remaining infrastructure is listed <br />in Parts 1-4, the Fund balance of 23, 340 would remain to be applied toward those <br />improvements If however, they were Part 5 improvements. the S3.340 fund <br />balance would be reimbursed to Developer A. <br />USE OF FEE <br />As Specific Plan fees are collected by the City, they will be available for constructing <br />shared infrastructure in accordance with the following principles. <br />Financing Program #17. Specific Plan Fees collected by the City shall be kept in a <br />segregated Vineyard Avenue Corridor Specific Plan Fund which shall earn interest at the <br />City's LAEF rate. <br />Financing Program #18. The total fees owed by a developer shall be off -set by the <br />value of any shared infrastructure improvements which the developer has bonded to <br />improve in conjunction with its final map/improvement plans or other vehicle insuring its <br />installation. <br />Example 18A. Developer A 's total fee obligation is 280, 000. Developer A will <br />build shared infrastructure improvements estimated to total 245,000. Developer <br />A will pay a fee of S35,000 and bond for theS45, 000 improvements. Upon <br />completion of the improvements, if. the actual cost is different than the estimated <br />cost, the total fee obligation will be recalculated and the actual cost given as a <br />credit. <br />Financing Program #19: Fees in the Vineyard Avenue Corridor Specific Plan Fund <br />shall be used for the following purposes in the order listed: <br />• first, to reimburse developers eligible for reimbursement based on the <br />pro rata share of that Lot's share of the infrastructure eligible for <br />reimbursement. <br />• second, to assist in the funding/installation of any of the infrastructure <br />components listed in Parts 1-4 of Table 1. <br />• third, to reimburse any developer (other than the City) eligible for <br />reimbursement; in the event more than one developer is eligible for <br />reimbursement, any such funds shall be prorated based on the amounts <br />owed at that time to each developer. <br />• fourth, to install Part 5 infrastructure as listed in Table 1. <br />• fifth, to reimburse the City for any costs it has incurred in installing <br />shared infrastructure improvements using non - Specific Plan Funds. <br />12 <br />