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<br /> <br />- 8 - <br />When calculating the assessments for the rehabilitation of the proposed streets <br />an issue on deferment of the assessment amount for potentially sub-dividable <br />lots was raised. Currently a development deferral is allowed for large lots that <br />are dividable. The amount deferred is typically any footage above the maximum <br />footage cap for a residential property of 125-feet. In some cases it is likely that <br />the deferred portion of the assessment will be collected, however in other cases <br />it is likely that the deferred assessment will never be collected. If the deferred <br />amount is never collected it brings a question forward of if 50% of the project <br />costs are truly assessed. To address this question staff reviewed the likelihood <br />that the properties in question on each street were likely to be developed in the <br />future, or if it was likely that a particular property would remain one lot. If staff felt <br />the properties were likely to develop then the deferred portion would be counted <br />in the 50% assessed amount. If staff felt the properties were unlikely to develop <br />then the deferred portion was not counted in the 50% assessed amount. Based <br />on staff’s review the deferred properties on Demont Avenue and Aspen Circle <br />should be included in the 50% assessed amount due to the likelihood that the <br />properties will be split and the assessment will become due in the future. The <br />deferred properties on Morrison Avenue should not be counted in the 50% <br />assessed cost due to their unlikely development. Council direction on the issue of <br />deferred assessment amounts is requested. <br /> <br />INDIVIDUAL PROJECTS <br /> <br />• ASPEN CIRCLE <br />The total project cost for the rehabilitation of Aspen Circle is estimated at <br />$193,000.00. There are 27 residential properties along Aspen Circle <br />including one subdividable lot for a total of 28 assessable units. The project <br />costs eligible for assessment total $174,550.00 and include both general <br />street improvement items and the replacement of all driveway access curb. <br />Based on a 50/50 sharing of the assessable costs the assessments total <br />$87,275.00. <br /> <br />• DEMONT AVENUE <br />The total project cost for the rehabilitation of Demont Avenue is estimated at <br />$190,400.00. There are 20 residential properties along Demont Avenue, of <br />which two of the lots would receive a 20% assessment because of side yard <br />frontage and one lot is subdividable; for a total of 19.4 assessable units. The <br />project costs eligible for assessment total $176,400.00 and include both <br />general street improvement items and the replacement of all driveway access <br />curb. Based on a 50/50 sharing of the assessable costs the assessments <br />total $88,200.00.