Agenda - Council Work Session - 11/18/2014

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Page 21 Special Assessments Policy cost (31' width), or increase in value, whichever is lower. Apartments, condominiums and town homes would also pay 100 percent residential street cost, or increase in value, whichever is lower. The number of units to be assessed for benefiting multi -family properties would be derived by taking the area of the multi -family parcel and dividing it by the typical residential lot size (14,434 sf.) The area of the lot is to be derived by taking the Length of all streets abutting the benefiting property and multiplying by the depth of 165 feet. Commercial/industrial properties to be assessed for 100 percent of actual construction costs on unit basis, or increase in value, whichever is lower, On MSA and County roads, industrial/commercial properties, churches, schools, libraries, and City Hall would pay 100% of actual MSA or County road up to 42 foot width. C. Determining Mill and Overlay Improvement Assessment Rates for Construction in Existing Develoned Areas 1. The residential, including trails and street lighting, to be assessed to residential properties, including single family, duplexes, and triplexes, is determined on a unit basis at 50 percent of the actual project cost, or appraised value, whichever is lower. Parks, water towers, lift stations and wells pay at the same rate on a unit basis as residential properties. The number of units for a park is derived by taking the area of the park to a depth of 165 feet from the front of the property back divided by typical residential lot size (14,434 sf.) Park assessments would continue to be paid as part of the general levy taxes over the life of the assessment. Residential properties would pay on MSA and County streets at a rate of 50 percent of the typical residential street rate. The residential streets and County roads, including trails and street lighting, to be assessed to multi -family (above 3 units) on a unit basis for 100 percent of residential street and utility reconstruction costs, or increase in value, whichever is lower. The number of units to be assessed for multi -family would be derived by taking the area of the multi -family parcel and dividing it by the typical residential lot size (14,434 sf.), using footage up to two long sides of property. Three sided lots will not be assessed for third side. The number of multi -family units would be derived by taking the area of the parcel to 165' depth. On MSA and County roads, the properties to pay 100 percent of typical residential street cost. Commercial/industrial properties to be assessed for 100 percent of actual construction costs on unit basis, or increase in value, whichever is lower.