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Page 23 Special Assessments Policy <br />to be assessed to residential properties, including single family units, duplexes, and <br />triplexes, is determined on a unit basis at 50 percent of the actual project cost, or <br />appraised value, whichever is lower. The City will pay for sidewalks along MSA <br />streets adjacent to equivalent single family units, whether initiated by the City or <br />petition from property owners. All property owners are to pay for sidewalks along <br />non-MSA streets per this policy. Parks pay at the same rate on a unit basis as <br />residential properties. The number of units for a park is derived by taking the area of <br />the benefiting park divided by typical residential lot size (14,434 sf.) The area of the <br />park is to be derived by taking the length of all streets within the project abutting the <br />property and multiplying by the depth of 165 feet. Park assessments would continue <br />to be paid as part of the general levy taxes over the life of the assessment. <br />The residential, MSA and County roads, including trails and street lighting, to be <br />assessed to multi -family (above 3 units) on a unit basis for 100 percent of residential <br />street and utility reconstruction costs, or increase in value, whichever is lower. The <br />number of units to be assessed for multi -family would be derived by taking the area <br />of the multi -family parcel and dividing it by the typical residential lot size (14,434 <br />sf.) On MSA and County roads, the properties to pay 100 percent of typical <br />residential street cost. <br />Commercial/industrial properties to be assessed for 100 percent of actual <br />construction costs up to a maximum of 42' width on unit basis, or increase in value, <br />whichever is lower. Churches and schools would pay at the commercial rate. The <br />number of units to be assessed would be derived in the same manner as multi -family. <br />The number of units to be assessed for industrial/commercial properties would be <br />derived by taking the area of the parcel and dividing it by the typical residential lot <br />size (14,434 sf.) The number of commercial/industrial properties would be derived <br />by taking the area of the parcel to 165 foot depth. <br />F. Determining Streets. Sidewalks. Trail and Street Lighting Assessment Improvement <br />Rates on for New Construction in 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. 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 />