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calculated assessment rate is the quotient of the one half of the total cost of the <br />improvement divided by the total front footage for the improvement. This Calculated <br />Assessment Rate (CAR) shall be compared to the Maximum Assessment Rate (MAR), and <br />the lesser of the two shall be used. The current Maximum Assessment Rate for streets and <br />drainage is $77 /Foot. This Project area is in the R -1 Zoning District, which would mean an <br />80 -foot wide lot size will be used to calculate the Lot/Unit Assessments. <br />The Street/Storm Assessment Rates are calculated as shown below. <br />Street/Storm <br />Total Street and Drainage Cost $ 1,248,000.00 <br />Total Front Frontage 7,841 <br />Calculated Assesment Rate (CAR) $ 79.58 <br />Maximum Assessment Rate (MAR) $ 77.00 <br />Lot/Unit Assessment Rate ($ /Lot) $ 6,160.00 <br />The total cost to install new utilities is assessed 100% to the benefiting properties as <br />defined in Section XVII, which is titled Municipal Utilities in the Pavement Management <br />Policies. The Watermain Assessment Rates are calculated as shown below. <br />Watermain <br />Construction Cost <br />Trunk Area & Unit Cost <br />Trunk Credit <br />Assessable Units <br />Lot/Unit Assessment Rate ($ /Lot) <br />$ 404,600.00 <br />$ 168,187.50 <br />$ (48,400.00) <br />69 <br />$ 7,599.82 <br />Trunk Area & Unit Cost are made up of the City Water Area Charge of $672.50 and the <br />City Water Unit Charge of $1,765.00. <br />The funding for this Project is calculated as shown below. <br />Project Funding <br />Assessments <br />Assessments on Public Property <br />(Supported by Tax Levy) <br />Trunk Water Area & Unit <br />General Tax Levy <br />Total Project Cost <br />$ 886,788.40 <br />$ 68,799.10 <br />$ 48,400.00 <br />$ 816,800.00 <br />$ 1,820,787.50 <br />8 13371.000 <br />