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• section. This assessment rate shall be determined by the City Council. All properties with <br /> frontage abutting a street that is reconstructed shall be assessed on a per unit basis at the tax <br /> exempt equivalent assessment rate. <br /> This rate shall apply, regardless of the street's classification (local, collector, arterial, trunk <br /> highway); designation (County State-Aid Highway, Municipal State-Aid Street); or <br /> jurisdiction (State, County or City). <br /> Mill and Overlay Improvements <br /> Mill and overlay improvements are placed as a cost-effective measure to extend the useful <br /> street life of a particular roadway and to delay street <br /> reconstruction needs. As bituminous mill and overlays are constructed as long-term <br /> rehabilitation improvements, the cost of these improvements shall be assessed as described <br /> below. <br /> From time to time, however, the City's Operations and Maintenance Department may <br /> determine that small street areas need immediate bituminous overlay improvements for short- <br /> term maintenance purposes. These types of bituminous overlays, determined to be "stop <br /> gap" maintenance needs rather than long-term street rehabilitation improvements, shall not <br /> be assessed to abutting properties and shall be funded by the City. <br /> A. Residential Equivalent Assessment Rate <br /> All R-1 and R-2 residentially zoned properties with frontage abutting a street that is overlaid <br /> with bituminous surfacing shall be assessed on a per unit basis at the residential equivalent <br /> assessment rate. <br /> This rate shall apply, regardless of the street's classification (local, collector, arterial, trunk <br /> highway); designation (County State-Aid Highway, Municipal State-Aid Street); or <br /> jurisdiction(State, County or City). <br /> The residential equivalent assessment rate shall be based on fifty percent (50%) of the cost of <br /> bituminous overlay plus all associated overhead costs for a typical residential street section. <br /> This residential equivalent assessment rate shall be determined by the City Council. <br /> B. Commercial/Industrial Equivalent Assessment Rate <br /> All commercially or industrially zoned properties with frontage abutting a street that is <br /> overlaid with bituminous surfacing shall be assessed on a unit basis at the <br /> commercial/industrial equivalent assessment rate. <br /> • <br /> 2004 Assessment Policy—Page 4 <br />