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Section IV <br />ASSESSMENT PLAN <br />A. Introduction <br />The PID Act requires the City Council to apportion the cost of the Public Improvements <br />based on the special benefits conferred to each Parcel or Lot from the Public <br />Improvements. The PID Act provides that the Actual Costs may be assessed: (i) equally per <br />front foot or square foot; (ii) according to the value of the property as determined by the <br />governing body, with or without regard to improvements on the property; or (iii) in any <br />other manner that results in imposing equal shares of the cost on property similarly <br />benefited. The PID Act further provides that the City Council may establish the methods of <br />assessing the special benefits for various classes of improvements. <br />Table IV -A details the estimated allocation of costs of the Major Improvement <br />Improvements funded by the Major Public Improvement PID Bonds to the Assessed <br />Property. When Additional Improvement PID Bonds are issued, this SAP will be updated to <br />include a Table IV -B. <br />This section of this Service and Assessment Plan is intended to describe the special benefit <br />conferred to each Parcel within the PID as a result of the Major Improvements funded by <br />the Major Public Improvement PID Bonds, to provide the basis and justification for the <br />determination that this special benefit exceeds the amount of the Special Assessments, and <br />to explain the methodologies by which the City Council allocates and reallocates the special <br />benefit of the Major Public Improvements to Parcels or Lots so that there is an equal share <br />of the Actual Cost being apportioned to Parcels or Lots similarly benefited. The <br />determination by the City Council of the assessment methodology set forth below is the <br />result of the discretionary exercise by the City Council of its legislative authority and <br />governmental powers and is conclusive and binding on the Landowners and all future <br />owners and developers of any Assessed Property. <br />B. Special Benefit <br />The Assessed Property must receive a direct and special benefit from the Public <br />Improvements, which must be equal to or greater than the amount of the Special <br />Assessments. The Major Public Improvements are provided solely for the benefit of the <br />Assessed Property. <br />14 <br />