Item 2: Ordinance on Street Assessments

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Option 2: the total area of the property to be assessed. Option 3: the total area of the property multiplied by the area unit cost plus the total linear front footage multiplied by the front unit cost. The area unit cost is determined by dividing half of the apportioned assessable costs of the improvement by the total assessable area of all lots included in the improvement district. The frontage unit cost is determined by dividing half of the apportioned assessable costs of the improvement by the total assessable frontage of all lots included in the improvement district. Option: For parcels located on dead end streets or cul-de-sacs that have been previously improved, assessments for street improvements shall be based on half of the [total linear feet/total area/area and linear feet]. (d) Vacant parcels of one-half acre or larger shall not be assessed at the time of the street improvement, but the person who receives a permit to develop such a parcel shall pay an equivalent assessment when required by and in accordance with subsection 7.180(5) and 7.407 of this code. “Vacant parcel” means a parcel that has no structure designed or used for human residence, business, industry or other occupancy, or any physical alteration to the land designed, used or intended to serve such a structure or a business or other use whose employees or customers access the structure or business or other use from a street. (5) Equivalent Assessment (a) For purposes of this subsection (5), the minimum required number of dwelling units shall be based on the minimum dwelling units per acre required for the zone. (b) The equivalent assessment for residential parcels in low density or single-family residential zones not assessed at the time of the street improvement shall be determined by multiplying the minimum required number of dwelling units for the zone by the cost per RAU. (c) The equivalent assessment for residential parcels in zones other than low density or single-family residential zones not assessed at the time of the street improvement shall be determined by multiplying the minimum required number of dwelling units by the cost of .25 RAU. (d) The equivalent assessment for non-residential parcels not assessed at the time of the street improvement shall be based on [the number of linear feet of property to be assessed/the total area of the property to be assessed/the total area of the property and the total number of linear feet of the property to be assessed]. (e) Except as provided in subsection 7.180(5)(f), the equivalent assessment shall be calculated, reviewed and paid as provided in section 7.407 of this code before any of the following occurs: Ordinance - Page 10 of 14