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07-12-1995 Council Agenda
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07-12-1995 Council Agenda
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assessment that is lower than the "norm" based on <br />comparisons with other improvements, the City reserves the <br />right to adjust the assessment in order to create a more <br />equitable situation. <br />4. Per Lot Assessment. The City reserves the right at its sole <br />discretion to utilize a "per lot" assessment methodology <br />when it appears to result in more equitable treatment of <br />affected properties with similar characteristics in a <br />proiect area. A "per lot" assessment will calculate <br />assessable costs in the same manner as the "front foot" <br />method. This amount will then be divided by the number of <br />assessable lots within a proiect area to yield the <br />assessment rate per lot. The ability to subdivide a parcel <br />consistent with City zoning regulations will result in <br />corresponding number of "per lot" assessable units. <br />5. Preliminary Appraisal. The City may, when it determines <br />appropriate, consult with a qualified appraiser to prepare a <br />preliminary appraisal. The purpose of this appraisal is to <br />assist the City in determining whether the proposed <br />improvement will result in an increase in market value of <br />the property which equals or exceeds the assessment levied <br />against the property. <br />D. Division of Cost Between City and Affected Property Owners <br />1. City -Owned Property. The City will pay its share of a <br />street project in the amount of a sum equal to the abutting <br />footage. <br />2. Cost of Intersections. The cost for intersections of <br />streets and similar parts of public improvements not <br />immediately fronting on private or publicly -owned property <br />shall be distributed over the benefitted property within the <br />assessment district. <br />E. Amount of Assessments <br />1. Rehabilitated /Reconstructed Rural Streets: The costs of <br />rural streets that are rehabilitated or are reconstructed as <br />a rural section shall be financed 100% through assessments <br />to the abutting properties. <br />feaidcntial AO rural atrcct acctiono are not <br />be available othcr than application of the Modified <br />Acacssmcnt Rate. <br />Commercial 100% of projcct coata. <br />2. Upgraded Rural Streets: It is the City's desire to upgrade <br />6 <br />Page 9 <br />
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