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Page 18 Special. Assessments Policy <br />and commercial/industrial areas, the storm sewer trunk assessment is based <br />upon the storm sewer usage relative to a single family unit. <br />D. Determining Storm Sewer Assessment Improvement Rates for New Construction in <br />Undeveloped Areas <br />1. Public Proiects <br />The developers/owners to provide the City with petition, waivers of public <br />hearing, and waiver of assessment hearing and appeal. The developers/ <br />owners to provide a letter of credit amounting to 110 percent of the project <br />cost, based on the estimated project cost. The developer/owner to pay their <br />portion of the costs, as negotiated at the beginning of the project, at the end of <br />the project. The project may be assessed with approval of the City Council. <br />2. Private Proiects <br />Continue to accept developers doing private improvement projects with the <br />City having full review and full inspection control, with all costs paid by the <br />developers. A letter of credit or cash for 110 percent of the construction costs <br />to be furnished to City. A development agreement to be approved and all <br />funds required therein to be in place with the City prior to commencement of <br />construction. <br />VI. STREET IMPROVEMENTS <br />New Street and/or Utility Construction <br />Streets that the existing residential property owner, previous property owner(s) or <br />original developer has not paid for the construction of a bituminous street, concrete <br />curb and gutter and/or utilities, will be considered a new street/utility. This property <br />would be assessed for 100 percent of the improvement, or increase in value, whichever <br />is lower. <br />Existing Street and/or Utility Reconstruction <br />Streets that the existing residential property owner, previous property owner(s) or <br />developer has paid for the construction of a bituminous street, concrete curb and gutter <br />and/or utilities will be considered an existing street/utility. This property would be <br />assessed for 50 percent of the improvement, or increase in value, whichever is lower. <br />As an example, if a current or previous residential property owner (s) or the original <br />developer paid for a bituminous street on the property being improved, but not <br />concrete curb and gutter, the property owner would pay for 50 percent of the existing <br />bituminous street and 100 percent of the new concrete curb and gutter, or the assessed <br />amount, whichever is lower. If a current or previous residential property owner (s) or <br />the developer had paid for water, sanitary sewer and/or storm sewer on the property <br />being improved, the current residential property owner will pay for the reconstruction <br />