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a. Credit Amount. The credit shall be in the amount of the lowest bid received <br /> for construction of the facility, as approved by the City Engineer. However, in no event shall a credit <br /> pursuant to this provision exceed the current facility cost. For the purposes of this Section I, such <br /> current facility cost shall be the amount listed in the Report for that particular facility as <br /> subsequently adjusted pursuant to Sections 8 and 9 of this Resolution prior to issuance of the <br /> building pennit for that facility. Once issued, credit pursuant to this Section I shall not be adjusted <br /> for inflation or any other factor. Credit provided pursuant to this Section 1 1 is not transferable. <br /> b. Application of Credit. Credit pursuant to this Section 11 may be applied by <br /> developers against the Fee applicable to a particular project until the credit is exhausted or an excess <br /> credit results. The total credit shall be divided by the number of units (for a residential project) to <br /> determine the amount of credit which can be applied against the Fee for each unit and, if the credit <br /> per unit is less than the Fee per unit, the developer shall pay the difference for each unit. If a credit <br /> pursuant to this Sectionl l is less than the Fee applicable to a particular non - residential development <br /> project, the developer shall pay the City the balance in cash. <br /> c. Reimbursement for Excess Credit. Reimbursement for excess credit shall <br /> only be from remaining unspent Fee revenues. Once all the Facilities have been constructed or <br /> acquired and to the extent Fee revenues are sufficient to cover all claims for reimbursement of Fee <br /> revenues, including reimbursement for excess credit, developers with excess credit shall be entitled <br /> to reimbursement, subject to such developers <br /> certifying in writing to the City that the cost of constructing the <br /> facility which resulted in an excess credit was not passed on to homeowners, and <br /> ii. indemnifying the City from landowner claims for reimbursement <br /> under Government Code Section 66000 et seq. and Section 66001 in particular. <br /> 12. Credit Concerning Quimby Act Dedications and /or Fees Paid. <br /> If a developer has dedicated land and /or paid aTee in lieu of dedication for a residential <br /> subdivision project under a City ordinance adopted pursuant to the Quimby Act ( "Quimby Act <br /> Ordinance "), and such residential subdivision project is later subject to imposition of the Fee, such <br /> developer shall be entitled to a credit against the Fee in accordance with the following: <br /> a. The amount of credit shall equal the park land acquisition element of the Fee <br /> applicable to the particular residential subdivision project and in effect at the <br /> time for payment of the Fee pursuant to this Resolution. <br /> b. The park improvement element of the Fee applicable to the particular <br /> residential subdivision project in effect at the time for payment of the Fee <br /> pursuant to this Resolution shall continue to apply, notwithstanding any <br /> dedication of land and /or payment of a fee in lieu of dedication for the <br /> particular residential subdivision project pursuant to the Quimby Act <br /> Ordinance. <br /> 8 <br />