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<br />202.09 202.09 (Rev. 2/00) <br /> <br /> <br /> b. Unit Assessment: A unit assessment shall be derived by dividing the total project <br />cost by the number of Residential Equivalent Density (RED) units in the project area. <br />A RED unit is defined as a single family residential unit. All platted and unplatted <br />property will be assigned RED unit values equivalent to the underlying zoning. When <br />the existing land use is less than the highest and best permitted use, the Council may <br />consider the current use as well as the full potential of land use in determining the <br />appropriate number of RED units. Otherwise, the following RED chart will apply on a <br />per unit basis, subject to adjustment by the Council for any inequities: <br /> <br />Single Family 1.00 RED <br />Duplex 1.00 RED <br />Condominium 0.80 RED <br />Multifamily (3 units or more) 0.80 RED <br />Townhouse 0.80 RED <br />Commercial 2.00 Units <br />Industrial 2.00 Units <br /> <br /> The unit approach has proven to be the best method in those instances whereby the <br />improvement largely benefits everyone to the same degree and the cost of the <br />improvement is not generally affected by parcel size. <br /> <br /> c. Area Assessment: The assessable area shall be expressed in terms of the number of <br />acres or the number of square feet subject to assessment. When determining the <br />assessable area, the following considerations will be given: <br /> <br /> (1) Ponding Assessment Consideration: Lakes, ponds and swamps may be <br />considered a part of the assessable area of a parcel. <br /> <br /> (2) Road Right-of-Way Assessment Consideration: Up to twenty percent (20%) of <br />the gross acreage may be deducted for street right-of-way purposes within unplatted <br />parcels of five acres or more depending upon the parcel configuration and is only <br />applicable to single family residential use. Parcels of less than five (5) acres may <br />not qualify and may be assessed full acreage. The reason for this size restriction is <br />that, in most instances, parcels of less than five (5) acres cannot support an internal <br />public road system. <br /> <br /> (3) Park Dedication Assessment Consideration: When park land is dedicated as <br />part of a residential development, as required by Subdivisions Code – Chapter <br />1204.02, the developer shall not be assessed an acreage charge on the portion of <br />land dedicated. <br />City of Mounds View