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• This rate shall apply regardless of the streets classifi- • <br /> cation (local , collector, arterial , trunk highway) ; <br /> designation (County State-Aid Highway, Municipal State-Aid <br /> Street) ; or jurisdiction (State, County or City) . <br /> The residential equivalent assessment rate shall be based on <br /> 50% of the cost of street reconstruction plus all associated <br /> overhead costs for a typical residential street section. <br /> This residential equivalent assessment rate shall be <br /> determined by the City Council and established by resolution <br /> on an annual basis based upon comparable project data <br /> available to the City. <br /> 2. Commercial /Industrial Equivalent Assessment Rate • <br /> • All commercially or industrially zoned properties with <br /> frontage abutting a street which is reconstructed shall be <br /> assessed on a front foot basis at the commercial/industrial <br /> equivalent assessment rate. This rate shall apply regardless <br /> of the streets classification (local , collector, arterial , <br /> trunk highway) ; designation (County, State-Aid Highway, <br /> Municipal State-Aid Street) ; or jurisdiction (State, County <br /> or City) . <br /> The commercial/industrial equivalent assessment rate shall be <br /> based on 70% of the cost of street reconstruction for a typical <br /> commercial street section. This commercial/industrial <br /> equivalent assessment rate shall be determined by the City <br /> Council and established by resolution on an annual basis based • <br /> upon comparable project data available to the City. <br /> 32 <br />