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ASSESSMENT POLICY <br />❑ Street <br />• Residential Formula for Upgrade to Urban Section <br />• Assessed at 85% of Street Reconstruction Costs Based on: <br />8 "/3" Urban Section <br />• 8 Inch Sub -cut <br />• 8 Inches of aggregate base <br />• 1 1/2 Inches of bituminous base <br />• 1 % Inches of bituminous wear <br />Width not Exceeding 30 -feet <br />Concrete Curb and Gutter <br />• 0% of Storm Sewer Assessed <br />• 0% of Sanitary Repair Assessed <br />• Maximum Street Assessment Rate of $50.00 per front foot <br />(Increased from 2002 rate due to construction cost inflation, no <br />deduction for seeding) <br />• Single Frontage Project, Only assess 50% of project cost <br />❑ Per Lot Assessment <br />Provide more uniform assessment to all properties. <br />Subject to City Council approval <br />a Watermain <br />➢ Currently no Watermain in Front of Property <br />• Maximum of $5,443.00 per Lot for New Watermain Installation <br />i Properties Already Connected to Water <br />• No Watermain Cost Assessed <br />-21- <br />