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project costs applied against assessable property yield <br />a lower rate without City subsidy. <br />* The City Council reserves the right to vary from the <br />guidelines when an inequitable situation results from <br />their application. <br />Affected property owners are to be assessed 100% of the actual <br />project costs associated with the installation of a six inch water <br />main and related appurtenances. Costs associated with over - sizing <br />are to be borne by the City. The preferred method of assessment <br />shall be a "per lot" basis. However, the City reserves the right <br />to utilize the method which it feels results in the greatest equity <br />to all affected property owners. The determination of a lot will <br />be done using applicable zoning standards including parcels which <br />have the potential to be subdivided or any lot of record upon which <br />a dwelling exists. The option of a development deferral will exist <br />for any lot(s) without an existing structure. <br />In the event the application of this formula results in an <br />assessment exceeding $4,400 per lot (1994 amount based on 1983 <br />project costs adjusted by the consumer price index), then the <br />maximum amount to be assessed will not exceed the $4,400 per lot <br />figure or an amount yielding the same total project assessment <br />should the rate be calculated on some other basis. It is further <br />understood that the $4,400 per lot figure will be adjusted by the <br />CPI index from 1994 to the year the assessment is levied. <br />3 <br />Page 81 <br />