02-09-26-R - Laserfiche WebLink

Home Browse Search

The potential RC" Grants in the amount of $110,000 will be determined by the RCWD Board on February 11, 2026. A portion of this project is proposed to be assessed to the benefiting property owners and the remainder through other funding sources. In accordance with the City's Assessment policy, the preliminary assessment for the recommended improvement is calculated as: Residential Reclamation Areas: 50% Estimated Street Project Costs = $614,500 Residential Equivalent Units = 105 Assessment Rate = $5,850 Residential Mill & Overlay Areas 50% Estimated Street Project Costs = $81,500 Residential Equivalent Units = 21 Assessment Rate = $3,880 Industrial Reclamation Areas 70% Estimated Street Project Costs = $280,000 Residential Equivalent Units = 334 (assumes 3 REU's per Acre) Calculated Assessment Rate = $840 per REU To ensure the calculations resulting from the application of the City's assessment policy are in line with an appraiser's opinion of benefit to the properties in each improvement/zoning category, the City enlisted the services of Nagell Appraisal & Consulting to conduct a general benefit appraisal on the properties throughout each unique project area. The general benefit appraisals are included in Appendix D of the Feasibility Report. The general benefit appraisals resulted in a range of benefit values for each improvement/zoning category, as indicated below: Residential Mill & Overlay Areas Single -Family Residential Non -Lakefront Lot Benefit Appraisal Assessment Rate = $3,000 to $4,000 per REU Single -Family Residential Lakefront Lot Benefit Appraisal Assessment Rate = $4,000 to $5,000 per REU Residential Reclamation Areas Single -Family Residential Non -Lakefront Lot Benefit Appraisal Assessment Rate = $8,000 to $10,000 per REU Single -Family Residential Lakefront Lot Benefit Appraisal Assessment Rate = $9,000 to $11,000 per REU Page 3 of 4