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the project notified in writing in accordance with <br />applicable State Statutes and City Standards. (At its <br />discretion, the City Council may chose to hold the <br />assessment hearing simultaneous with the improvement <br />hearing.) <br />If after the improvement hearing, at which all persons <br />are heard, the Council feels that the project still has <br />merit, then the Council will authorize the preparation <br />of necessary plans and specifications, and upon receipt <br />and acceptance of those plans, will authorize the <br />advertisement for bids for the construction of the <br />project. <br />C. Basis of Assessment <br />Streets - General <br />1. Front Foot Basis. Assessment will be against the <br />abutting property on a front foot basis subject to <br />modifications necessary to provide for a minimum and <br />maximum assessment for residential lots as well as for <br />modified assessable footage if applicable. <br />2. Residential or Commercial Formulas. Two basic assessment <br />formulas will be used, one for residences (hereinafter <br />referred to as "residential rate" or "residential <br />property" and the second rate for commercial, industrial, <br />school, church, nursing home property and other publicly <br />owned property. (hereinafter referred to as "commercial <br />rate" or "commercial property "). <br />3. When an improvement takes place along a road with <br />entirely single frontage on one side, the City will only <br />assess 50% of the project costs, subject to the <br />appropriate formulas. The other 50% of the project costs <br />attributable to the side of the street without <br />developable frontage shall be borne by the City. In the <br />event the application of this formula results in an <br />assessment that is lower than the "norm" based on <br />comparisons with other improvements, the City reserves <br />the right to adjust the assessment in order to create a <br />more equitable situation. <br />4. Preliminary Appraisal. The City may, when it determines <br />appropriate, consult with a qualified appraiser to <br />prepare a preliminary appraisal. The purpose of this <br />appraisal is to assist the City in determining whether <br />the proposed improvement will result in an increase in <br />market value to the property which meets or exceeds the <br />assessment levied against the property. <br />-5- <br />Page 18 <br />