Agenda Packets - 1995/09/26 - Laserfiche WebLink

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or resurface a street or perform major repair/replacement work on sewer and water utilities, before a reasonable amount of time (10 to 12 years for resurfacing, 12 to 17 years for partial reconstruction and 17 to 25 years for total reconstruction) the assessment shall be calculated on a pro-rata basis . The remaining cost shall be recovered by means of the general ad valorem property tax paid by the entire community or by other funds that may become available to the City for infrastructure cost recovery. Subd. 3 METHODS OF ASSESSMENT a. The nature of an improvement determines the method of assessment. The objective is to choose an assessment method which will arrive at a reasonable, fair and equitable assessment which will be uniform upon the same class of property within the assessed area. The most frequently recognized assessment methods are: the unit assessment, the front footage assessment and the area assessment . Depending upon the individual project, any one or a combination of these methods may be utilized to arrive at an appropriate cost distribution. City staff will consider all methods and weigh their applicability to the project and present a recommendation to the City Council in the form of a mock assessment roll (or rolls) . A description of each assessment and its corresponding policy application is presented. A separate section (Section III) will identify the appropriate matchup of method with a specific type of project and analyze why each is generally used. The purpose of assessment formulas is to allocate assessed costs among benefitted properties, the formula should result in a allocation of assessments which is reasonably related to the benefit received. Any one predetermined formula will not be appropriate in all cases because of circumstances unique to the relationship between the specific project and the specific properties benefitted. When considering an assessment method or formula for any given project, it may be necessary to combine assessment methods or to modify the methods described below. Therefore, the following description of methods of assessments should be regarded as guidelines, which may not be appropriate in all cases . b. Unit Assessment . A unit assessment shall be derived by dividing the total project cost by the number of Residential Equivalent Density (RED) units in the project area. A RED unit is defined as a single family residential unit . All platted and unplatted property will assigned RED unit values equivalent to the underlying