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2006 PMP Update 4/13/2006 Page 2 . A, Residential Equivalent Assessment Rate All R-l and R-2 residentially zoned properties with frontage abutting a street that is overlaid with bituminous surfacing shall be assessed on a per unit basis at the residential equivalent assessment rate. This rate shall apply, regardless of the street's classification (local, collector, arterial, trunk highway); designation (County State-Aid Highway, Municipal State-Aid Street); or Jurisdiction (State, County or City). The residential equivalent assessment rate shall be based on fifty percent (50%) of the cost of bituminous overlay plus all associated overhead costs for a typical residential street section. This residential equivalent assessment rate shall be determined by the City Council. Based on the current engineer's estimate, 50% of the roadway improvements amounts to $571,369.57. The assessment per property is dependent upon the total number of units to be assessed. Staffis seeking guidance from Council on how some of the properties in the neighborhood should be incorporated into the assessment roll. TIle preliminary assessment roll in the feasibility report included 62 assessable units within . the Ridgcwood Neighborhood. Several parcels were not included in this base number because, although the parcels do abut the streets to be improved, the parcels currently do not use the streets as their access to the property. Staff would like to reserve the right to assess any parcel in the future should it be developed or redeveloped with access to any of the roads within the project. The following is an excerpt from the Assessment Policy: 1. Land Not Included in Assessment The City may resen'e the right to delete land within the assessable area from the assessment roles if, in its opinion, the land cannot be developed and/or the improvement does not provide benefit, No development of that property shall be permit/ed, nor shall any physical connection to the City's utility or drainage facilities be made by any development on that property until the assessment or connection fees are paid. The following additional properties were listed as potential assessable units and need to be considered prior to preparing the final assessment roll. Attached for your review is the assessment rate discussion (page ]6) from the feasibility report as well as a map of the area, which included the parcels described below. Arden Hills Island Beach CJut. The initial concept of this properly equaling ]2 units was based on dividing the total front footage of the property (approximately 1200 feet) by an average lot width of 100 feet. Since . the initial concept, staff has looked into the history of the Beach Club and the parcels owned by the Beach Club. The following infonnation was retrieved: