Agenda Packets - 2003/09/02 - Laserfiche WebLink

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8 % of Cost Land Use Type Assessed Commercial 80% Non-Profit/Tax Exempt Property 50% Multi-Family 50% Residential 25% 1 1 Based on standard 28' residential street. 2. Unplatted or vacant commercial, retail, tax exempt, institutional, medium and high-density residential properties will be assessed as described above based upon the land use allowed by the ordinance. III. ASSOCIATED INFRASTRUCTURE REPAIRS Storm Sewer, Sanitary Sewer, Water main, Sidewalks, and Curb and Gutter: 1. The cost of lateral and main storm, and sidewalk / pathway, and Curb and Gutter improvements, maintenance, new, and reconstruction within the area where streets are receiving major maintenance will be included in the project cost to be assessed at the same rate as the street portion. 2. The cost of lateral and main sanitary sewer and water main maintenance and reconstruction within the area where streets are receiving major maintenance will be included in the project cost to be assessed at the same rate as the street portion. 3. The total cost of new lateral sanitary sewer and water main construction will be assessed against the properties receiving sanitary sewer and water service by the new construction. IV. FINANCING A. The cost of the major maintenance and related utility improvements will be assessed over a period not to exceed 10 years. B. The project costs not funded by assessments will be funded from general city revenues. The City Council may specify other funding sources if they are available and their expenditure is specifically authorized by the Council. C. The assessment rate will be based on the project cost including the rate of interest on bonds sold to finance the project plus a surcharge of one percent. Adopted: Date XXXXX XX, 2003