Laserfiche WebLink
10 <br />6. Assessment rates: Assessment rates will be determined on an annual basis <br />by the City Council for each cycle of projects. The rates may be based on <br />factors such as assessment formulas contained in this policy, appraisal <br />recommendation, construction costs, construction cost indexes, and advice <br />of City staff. The interest rate will be determined by using the prime rate <br />plus one or two points and is at the discretion of the City Council. <br /> <br />7. Trunk Storm Sewer Improvements: In the event trunk line improvements <br />for storm drainage are made as part of a street improvement project, the <br />City’s determination of the portion of costs attributable to an undeveloped <br />parcel may be assessed to that parcel in order to avoid a City subsidy to <br />the development. <br /> <br />F. Residential Lots (Single Family, Doubles/Duplexes, or Townhome Projects up to <br /> four units in size each unit having a separate PID number) <br /> <br /> 1. Residential Lot Guidelines. A residential lot shall only be assessed for its <br />frontage as determined in accordance with the rules set forth below: <br /> <br />a. Minimum/Maximum. The street improvements will be assessed <br />on a front footage basis for the footage abutting the street surface, <br />with a 75-foot minimum and a 125-maximum applying. In the <br />event a lot exceeds 150 feet in width and can be subdivided <br />pursuant to zoning and subdivision requirements and existing site <br />conditions, the property will be assessed on the basis for each <br />individual lot which could be created. Access to a street will, at a <br />minimum, generate a 75-foot frontage for assessable purposes. <br />(See Appendix B) <br /> <br />b. Odd-Shaped and Rectangular Lots. For odd-shaped lots (such as <br />exist on cul-de-sacs, triangular intersections, curved streets, flag <br />lots) or rectangular lots, or a lot where an improvement does not <br />extend across the entire frontage of a parcel, such as an “L” <br />intersection, etc., the adjusted front footage is computed by <br />dividing the square footage (area) of the lot by 10,000 square feet <br />to determine the equivalent number of 75 front footage units in the <br />parcel. The equivalent unit figure multiplied by 75 feet will give <br />the adjusted front footage. Minimums and maximums set forth in <br />F.1.a. above will apply in this case. (See Appendix C and <br />Appendix D) <br /> <br />c. Approximately Rectangular Lots. For a lot which is approximately <br />rectangular, the adjusted front footage is computed by averaging <br />the front and rear sides of the lot. If the lot is deeper than 150 feet, <br />the width at the 150-foot depth is used for the rear line dimension. <br />This method is used only where the divergence between the front