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Page 14 Special Assessments Policy <br />The number of units to be assessed for commercial/industrial properties <br />would be derived in the same manner as multi -family. Churches and <br />schools would pay at the commercial rate. <br />2. Water Service Connection <br />The water service connection rate is determined by taking the total water <br />service installation costs for same size services, including overhead and <br />dividing by the number of services installed of that same size service. If <br />services are installed and angered across a roadway to serve a property, the <br />additional cost of angering is spread over the entire project. <br />D. Determining Water Assessment Improvement Rates for New Construction in <br />Undeveloped Areas <br />1. Public Projects <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. After full payment, the letter of credit will be canceled by the <br />City. The project may be assessed with approval of the City Council. <br />2. Private Projects <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. After full payment, the letter of credit will be canceled by the <br />City. <br />E. Determining Water Trunk. Source and Storage Fee <br />1. Each existing single-family residential unit is assessed one unit of Water <br />Trunk, Source and Storage. No assessment is made for Water Trunk, Source <br />and Storage on vacant lots, The Water Trunk, Source and Storage fee is paid <br />upon connection of new homes. Duplexes are assessed one trunk, source and <br />storage fee for each unit. <br />2. Apartment units are assessed at 80% of the regular single-family residential <br />