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Page 6 a. 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 zoning. When the existing land use is less than the highest and best permitted use, the Council may consider the current use as well as the full potential of land use in determining the appropriate number of RED units. Otherwise, the following RED chart will apply on a per unit basis, subject to adjustment by the Council for any inequities: Single Family 1.00 RED Duplex 1.00 RED Condominium 0.80 RED Multifamily (3 units or more) 0.80 RED Townhouse 0.80 RED Commercial 2.00 Units Industrial 2.00 Units The unit approach has proven to be the best method in those instances whereby the improvement largely benefits everyone to the same degree and the cost of the improvement is not generally affected by parcel size. b. Area Assessment. The assessable area shall be expressed in terms of the number of acres or the number of square feet subject to assessment. When determining the assessable area, the following considerations will be given: 1. Ponding Assessment Consideration. Lakes, ponds and swamps may be considered a part of the assessable area of a parcel. 2. Road Right-of-Way Assessment Consideration. Up to 20 percent (20%) of the gross acreage may be deducted for street right-of-way purposes within unplatted parcels of five acres or more depending upon the parcel configuration and is only applicable to single family residential use. Parcels of less than five acres may not qualify and may be assessed full acreage. The reason for this size restriction is that, in most instances, parcels of less than five acres cannot support an internal public road system. 3. Park Dedication Assessment Consideration. When park land is dedicated as part of a residential development, as required by Subdivisions Code - Chapter 1204.02, the developer shall not be assessed an acreage charge on the portion of land dedicated.