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<br />. <br /> <br />(Section III) will identify the appropriate matchup of <br />method with a specific type of project and analyze why <br />each is generally used. <br /> <br />The purpose of assessment formulas is to allocate <br />assessed costs among benefitted properties, the formula <br />should result in a allocation of assessments which is <br />reasonably related to the benefit received. Anyone <br />predetermined formula will not be appropriate in all <br />cases because of circumstances unique to the relationship <br />between the specific project and the specific properties <br />benefitted. when considering an assessment method or <br />formula for any given pr9ject, it may be necessary to <br />combine assessment methods or to modify the methods <br />described below. Therefore, the following description of <br />methods of assessments should be regarded as guidelines, <br />which may not be appropriate in all cases. <br /> <br />. <br /> <br />b. Unit Assessment. A unit assessment shall be derived <br />by dividing the total proj ect cost by the number of <br />Residential Equivalent Density (RED) units in the project <br />area. A RED unit is defined as a single family <br />residential unit. All platted and unplatted property will <br />assigned RED unit values equivalent to the underlying <br />zoning. When the existing land use is less than the <br />highest and best permitted use, the Council may consider <br />the current use as well as the full potential of land use <br />in determining the appropriate number of RED units. <br />Otherwise, the following RED chart will apply on a per <br />unit basis, subject to adjustment by the Council for any <br />inequities: <br /> <br />Single Family <br />Duplex <br />Condominium <br />Multifamily (3 units or more) <br />Townhouse <br />Commercial <br />Industrial <br /> <br />1.00 RED <br />1.00 RED <br />0.80 RED <br />0.80 RED <br />0.80 RED <br />2.00 Units <br />2.00 Units <br /> <br />The unit approach has proven to be the best method in <br />those instances whereby the improvement largely benefits <br />everyone to the same degree and the cost of the <br />improvement is not generally affected by parcel size. <br /> <br />. <br /> <br />c. Area Assessment. The assessable area shall be <br />expressed in terms of the number of acres or the number <br />of square feet subject to assessment. When determining <br />the assessable area, the following considerations will be <br />given: <br />