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report as to the feasibility of the improvement. If <br />after reviewing the feasibility report, the Council feels <br />the project if feasible, a public improvement hearing is <br />scheduled, notice published, and persons benefitted by <br />the project notified in writing in accordance with <br />applicable State Statutes. (At its discretion, the City <br />Council may chose to hold the assessment hearing <br />simultaneous with the improvement hearing.) <br />If after the improvement hearing, at which all persons <br />are heard, the Council feels that the project is feasible <br />then the Council may 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 residential property <br />(hereinafter referred to as "residential rate" or <br />"residential property" and the second rate for <br />commercial, industrial, school, church, nursing home <br />property and other publicly owned property (hereinafter <br />referred to as "commercial rate" or "commercial <br />property "). <br />3 Single Frontage Project. When an improvement takes place <br />along a street with entirely single frontage on one side, <br />the City will only assess 50% of the project costs, <br />subject to the appropriate formulas. The other 50% of <br />the project costs attributable to the side of the street <br />without developable frontage shall be borne by the City. <br />In the event the application of this formula results in <br />an 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 />-5- <br />Page 8 <br />