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concrete curb and gutter. The City pays for 100% of any improvements to the storm sewer, sanitary sewer, orwatermain. When calculating the assessments for the rehabilitation of Aspen Circle, an issue on deferment of assessment amount for potentially sub dividable lots was raised. Currently a development deferral is allowed for large lots that are dividable. It is likely that the deferred portion of the assessment will not be collected for several years if ever. If the deferred amount is never collected it brings a question forward of if 50% of the project costs are truly assessed. To address this question the assessments for Aspen Circle were calculated based on the lot frontages assuming no lots are ever subdivided. 50% of the project cost was applied to this footage. If the lot in question is ever subdivided and the deferrable portion collected those additional dollars would. be applied to the City's portion of the cost. This method for handling development deferrable assessments was approved by the City Council last year and is proposed to be utilized again this year. INDIVIDUAL PROJECTS DIANNA LANE The total street project cost for the reconstruction of Dianna Lane including street and storm sewer improvements is estimated at $708,500.00. There are 30 properties being assessed at the residential rate, which includes the one Outlot that is owned by the Gervias Shores Association. The total assessable footage calculated was 3,260.44 feet. Due to the similarities of the Tots and their use staff is recommending a unit assessment be utilized for the project with the following exclusion. Lots that have their front side on a street other than Dianna Lane are proposed to be assessed 0.2 of a unit assessment or 20% of their actual frontage whichever is less. As stated above, the maximum per foot residential street assessment is proposed to be capped at $61.50 per front foot. This results in a total proposed assessed project value of $200,516.94. There is one property being assessed that has the ability to subdivide and as such has a development deferral option on the subdividable portion of the assessment. At this time we are unaware of any desire of the current owner to subdivide the lot. ASPEN CIRCLE The total street project cost for the mill and pave of Aspen Circle is estimated at $115,000.00. There are 27 residential properties along Aspen Circle and City staff is recommending that a unit assessment be used on the project for the general improvements. Each individual property would then pay for 50% of the driveway curb removed and replaced if they chose to have their access modified. If no modification were done the property owner would only pay the general unit portion of the assessment. When the City's Street Assessment Policy is applied to the project costs, the maximum residential assessable cost to the adjacent property owners is $58,074.07, however this includes the development deferrable portion of the assessment to the sub dividable lot. The amount of the assessments that are currently due is $56,000.00, which is 50% of the project costs that are eligible for assessment. -r0- 13