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Mayor & City Council <br />July 3, 1995 <br />Page 2 <br />a range of assessable curb and gutter costs of $8 to <br />$12 per lineal foot at 100% assessed. With an average <br />of $10 per lineal foot, this results in the $1.50 <br />reduction in the assessment rate.) <br />For projects that will utilize the $45 per lineal foot <br />cap in assessable costs, we may not be reducing the <br />assessment rate at all because of the application of <br />the cap. For projects under the maximum assessment <br />rate, an additional costs will accrue to the City. <br />Given our higher than average assessment rates for <br />these projects, I feel maintaining the 85% rate is the <br />best option for us in the long run. If the Council <br />feels otherwise, then the rate should be adjusted to <br />87 %. <br />* Commercial and Multiple Family Assessment Rates. I did <br />not change the percentage allocations for these <br />projects in that it was not discussed by the Council. <br />Furthermore, we have yet to assess the projects on this <br />basis and I would recommend that we take a "wait and <br />see" approach before adjusting these percentages. <br />At our meeting of July 12, 1995, I would recommend adoption of <br />the policy as revised. Should you have any comments or questions <br />in the meantime, please let me know. <br />JRH:kpv <br />Page 3 <br />