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• <br />• <br />Draft <br />Draft <br />X. INTEREST RATE ON ASSESSMENTS <br />04 -18 -2005 Draft <br />An interest rate of assessments shall be charged at 2% over the rate of bonds issued to <br />finance the project. The minimum interest rate shall be 7% per annum. <br />XI. CORNER LOTS <br />Corner lots in Single Family, Two Family and Medium Density Districts where single - <br />family homes, two - family homes, townhomes, or condominiums are- built, will be a part <br />of the improvement and assessment process if the driveway for the subject corner lot is <br />on the improvement street. Such lot shall be assessed on a unit basis the same as interior <br />lots. However, regardless of driveway location, where a lot is subdividable and such <br />subdivision fronts the improvement street, the parcel shall be assessed for all units in <br />excess of the original lot. <br />XII. IRREGULARLY SHAPED LOTS <br />Irregularly shaped lots will be considered on an individual basis. Such lots will be <br />measured and assessed on their average width with the lot width at the front setback line <br />taken into consideration. <br />XIII. LOT WIDTH <br />Lot width is generally considered the lot width at the front setback line, with the <br />exception of irregularly shaped lots. <br />XIV. COLLECTOR STREET CREDITS <br />All residential properties, with the exception of properties with a density of greater than 6 <br />units /acre, will only be assessed for a city standard street as defined in Section XVIII., of <br />this policy. Residential properties with greater than 6 units per acre density and <br />commercial /industrial properties will be assessed toward the entire cost of street <br />improvement as outlined in these policies. <br />XV. CAPITAL IMPROVEMENT PROGRAM <br />The Street Maintenance and Reconstruction Plan, established per Section IV, shall be part <br />of the City's Capital Improvement Program which is prepared during the budgeting <br />process. <br />XVI. MAINTENANCE OF STREETS <br />A. General Maintenance. An important element of a good street Pavement <br />Management Plan Program is to provide good maintenance practices. Streets <br />should be swept as early as possible in the spring to help dry the streets; cracks <br />should be filled as early as possible in the year to prevent moisture into the sub- <br />Pavement Management Policy 6 04/18/05 <br />