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PUD No.4 Agx-eement-STONEBAY <br /> $XHYETT M -Schednle of Development Fees <br /> Cflrnmemce�nant of Phase One i.mprovexnents shall not occur until Developer has mede paymerat to <br /> the City of the prorated portion of the Developmart Feos (Park Dedication Fez, Stoim Water and <br /> Drainage Trunk Fee,and Sewcr and Water Connection Charges)for Phase One. Cornxnencement af � <br /> Future Phase improve��ts shall not occur until Developer has made payment to the City of the <br /> prorated po�tion of the Development Fees associated with said Future Phase. The Development Fees <br /> for each Phase sha]I be based on the proportional Bcreage or n�vmbar of units withiu each.Phase <br /> depending on the method of caleulation of each fee,relative to the total proj ect, as defined below. <br /> I. Park D�d�cation Fee <br /> Fee Calcul�tion Based on Ordinance <br /> A.Com�ner�ial�utlots. The paiic fee far each af the crnnmercial outlots(Out1 ots A and D�shall be <br /> due upon City Counci3 approval of a development proposal for eac�h lot and shall be paid prior to <br /> issuaticc of permits for c:onstivction wit�in each Outlot. <br /> The emount of the park fee for the commerci�l outlots by City ordinance is 8%of the Land Fair <br /> Market Valu�prioz to development. The combined L,and Fair Market Vstue for the commexcial <br /> outlots is established afi$1,237,126 based an the oombinad area withiri the�utlots of 7.19 acres� <br /> �3.95/s.f. estebiished vatue per squar�foot <br /> Fair Market Value =7.19 acrea x 43,560 a.Elacre x S3.95/s.£=S 1,23�,I26 <br /> 8%PBtk k'eo=0.08 z$1.237,12b��96�970 <br /> ivlin/ma�c range cluck(mnst ba between$8,125/�c aud�13,875lec):$98,970/7.19 acres=sI3,7631ae. <br /> B. Residentiat. The residentiai park fee is based on the value of the land being developcd <br /> residentially. The park fee for the residential porki.on of the deve].opznent by City orrlinance is g%of <br /> the Land Fair Market Value pxior to development. The established valus of the lsnd is based on the <br /> developers purchase price of the reside,ntial partion of the properiy which is$4,622,083. <br /> 8'Yo Perk Fte=0.08 x$4,622,083=�364,7b7 <br /> M�maz renge check:(nnust be between$3,2SOhmit aad E5,SSDlunit) <br /> $3b9.7b7/162 unita��2,283hmit(below t�equi�ed min-n�ax range} <br /> Minixmvn fee applied: l 62 nnits x 53,250/unit=5526,50Q <br /> Pbasing <br /> A. Residential. Proratson of Fee Payments: The number of dwelling units within ea.ch Phase <br /> divided by the total number of waits�+ithin a.11 P�ases shall determine the fractian of the total fee due. <br /> B. Gornmercial. Proration: If Outlots A and D are not de�eloped at the sanie time,the acreage <br /> of the outlot being developed divided by the tott�l ecreage of bo#h outlots shall determine the fracrion <br /> of the total fee due. <br /> Page 1 of 4 -. <br />