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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 j urisdiction (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 conercially or industrially zoned properties with <br />frontage abutting a street which is reconstructed shall be <br />assessed on a front foot basis at the commercialiindustrial <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 j urisdiction (State, County <br />or City). <br />The cortmercial/industrial equivalent assessment rate shall be <br />based on 70� of the cost of street reconstruction for a typical <br />comnercial street section. This commercia]lindustrial <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 />