Item 6: Ord.on Assess/Garden Way

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assessed for a maximum of 100 feet and a minimum of 50 feet of frontage. Properties that are greater than 1/2 acre and are partially developed with single family residential will be assessed for a maximum of 100 feet of frontage, with the remainder of the frontage assessment being delayed until further development occurs. Vacant properties over 1/2 acre were not levied an assessment with the LID. Assessment fees will be collected for these vacant properties when they are developed in the future. Costs listed below are the estimated assessment costs calculated at the time of the formation of the LID. A contingency was included in the estimate. Paving 7- foot (per front foot) $ 74.48 Paving 10-foot (per front foot) $ 106.39 Sidewalk (per square foot) $ 3.95 Wastewater (per square foot) $ 0.30 Wastewater service (per each) $ 3,650.30 Total Estimated Assessable Cost $ 927,261.89 Total Estimated City Cost $ 2,790,851.61 Total Estimated Project Cost $ 3,718,113.50 Below are the final unit assessable costs: Paving 7- foot (per front foot). $ 71.65 Paving 10-foot (per front foot) $ 102.36 Sidewalk (per square foot) $ 3.90 Wastewater (per square foot) $ 0.27 Wastewater service (per each) $ 3,560.29 Total Assessable Cost $ 745,431.01 Total City Cost $ 2,868,564.48 Total Project Cost $ 3,613,995.49 Of the assessable cost, $357,799.58 are delayed street assessments and $200,708.29 are on-hold wastewater assessments. Assessment financing, a 10-year payment plan through the City, is available to all property owners within the improvement district as identified by City Code, Chapter 7. Of the 33 properties in the LID, 6 property owners qualify for the low-to-moderate income subsidy program. This program only applies to owner-occupied properties in the LID. The City will pay in full for the subsidy share, 1 at moderate income (1/3), 3 at low income (2/3), and 2 at very low income (5/6). The total cost for the low income subsidies is $30,679.42. In addition, one property owner, Mr. Salomone, who does not occupy his property in the LID, has appealed for an exception to the occupancy requirement so that he can be included in the subsidy program, based on income alone. The hearing for his appeal is scheduled immediately prior to the final assessment hearing. If the hearings official finds in favor of Mr. Salamone, the total number of subsidies would be 7 and the cost of the subsidies would increase to $35,459.06.