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08/08/02 10:52 FAX 925 484 8234 <br />Example 19A. Assume a water line's cost is S100 and units (EDUs) sharing the <br />cost of the water line equal 10. Developer A installs the water line for S100 and <br />is eligible for 550 reimbursement. Developer B builds 2 units and pays total fees <br />of 5200, the water line component being 2/10 x 5100 = S20. Developer A will <br />receive pro rata reimbursement of S20 from the Fund; the balance (S200 — S20 = <br />5180) would remain for other shared infrastructure improvements listed in Parts <br />1 -4. <br />Example 19B. Assume two developers are eligible for reimbursement. Developer <br />A for 550 and Developer B for 530, after pro rata reimbursement of Developer <br />C's payment to the Fund. The Fund now contains 560 and all Part 1 -4 <br />infrastructure has been completed. The 560 would be reimbursed to Developers <br />A and B as follows: <br />Developer A 550 /580 x $60 = 537.50 <br />Developer B 530 /580 x S60 = 522.50 <br />REIMBURSEMENT ISSUES <br />The phasing requirements of the Specific Plan make it likely that developers may have to <br />install shared infrastructure improvements which cost more than their total Lot shares. In <br />this event they will be eligible for reimbursement in accordance with the following <br />principle. <br />• Financing Program #20. Any developer who installs shared infrastructure <br />improvements whose actual cost exceeds that developer's total Lot share of the total <br />Specific Plan shared infrastructure cost, as determined in accordance with the principles <br />found in Financing Program #12, shall be eligible for reimbursement for the difference <br />from the Vineyard Avenue Specific Plan Fund as other development pays fees to said <br />fund. The City is a "developer" for reimbursement purposes in the event it installs shared <br />infrastructure improvements using any funds other than the Vineyard Avenue Corridor <br />Specific Plan Fund. <br />(a) The reimbursement amount shall earn simple interest at an annual <br />rate of 8 %. based on the balance owed as of January 1 of each year. <br />(b) Reimbursement shall be paid as funds are paid into the Vineyard <br />Avenue Corridor Specific Plan Fund in accordance with the "Use of <br />Fee" provisions found in Financing Program #19. <br />(c) Reimbursements to any developer shall have a term of fifteen (15) <br />years. <br />Example 20A. See Examples 14A, 14B, 19A, and 19B. <br />CITY - PLEASANTON L]016/022 <br />13 <br />