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IV. Credits <br /> • A. Park Fee Credit for Trails Construction. <br /> The developer shall be granted a credit toward park fees for the costs of construction(but not <br /> � the land cost or easement cost)of the approximately 34001ineal feet of public trail that will <br /> be required along Willow Drive and through the commercial outlots,not including sidewalks <br /> along Kelley Parkway or within the residential development. At an estimated construction <br /> cost of$20 per lineal foot,the trail credit is estimated to be a total reduction of approximately <br /> $68,000. The City Engineer shall verify the actual costs of trail construction for purposes <br /> of determining the final credit amount. . <br /> B. SW&DT Fee Credits. <br /> 1. Developer shall be credited$16,912 for provision of excess capacity in water lines the City <br /> has required to be 12" vs 8". <br /> 2. Developer shall be credited for a portion of the costs to construct the regional pond, such <br /> credit to be based on the difference between the cost of a pond with capacity needed to serve <br /> just the Stonebay and associated commercial development,and the cost of the regional pond. � <br /> Developer shall calculate this cost differential and City Engineer shall verify. . <br /> • 3. Developer shall be credited $17,740 plus 12% design cost for incremental costlbenefit of <br /> providing storm sewer to the properties to the west of Stonebay(i.e. 2 dental office sites). <br /> C. Credit Format. � <br /> ' Credits will be in the form of a reimbursement to the Developer for actual costs as verified <br /> by the City Engineer. � <br /> V. Inflation Adjustments <br /> A. Park Fees. Park Fee amounts as established in this Exhibit shall not be subj ect to inflationary <br /> adjustment. � � <br /> B. Sewer and Water Connection Char�. For any Phase for which Final Plat Approval is . � <br /> granted after December 31, 2003, the Sewer and Water Connection Charges due shall be <br /> recalculated based on the then current City Fee Schedule SWCC rates. The Developer <br /> shall be allowed to prepay SWCC fees for future Phases at the 2003 rate no later than <br /> December 31, 2003. <br /> C. Storm Water & Draina�e Trunk Fees. For any Phase for which Final Plat Approval is <br /> granted after December 31, 2003, the SW&DT due shall be recalculated based on the then <br /> • current City Fee Schedule SW&DT rates. The Developer shall be allowed to prepay <br /> SW&DT fees for future Phases at the 2003 rate no later than December 31, 2003. <br /> Page 3 of 4 <br />