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Section IV <br />ASSESSMENT PLAN <br />A. Introduction <br />The PID Act requires the City Council to apportion the Public Improvement Costs based on <br />the special benefits conferred to each Parcel or Lot from the Public Improvements. The PID <br />Act provides that the Public Improvement Costs may be assessed: (i) equally per front foot <br />or square foot; (ii) according to the value of the property as determined by the governing <br />body, with or without regard to improvements on the property, or (iii) in any other manner <br />that results in imposing equal shares of the cost on property similarly benefited. The PID <br />Act further provides that the City Council may establish the methods of assessing the <br />special benefits for various classes of improvements. <br />Table IV -A details the allocation of costs of the Public Improvements funded by the PID <br />Bonds to the Assessed Property. <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 Public Improvements funded by <br />the PID Bonds, to provide the basis and justification for the determination that this special <br />benefit exceeds the amount of the Special Assessments, and to explain the methodologies <br />by which the City Council allocates and reallocates the special benefit of the Public <br />Improvements to Parcels or Lots so that there is an equal share of the Actual Cost being <br />apportioned to Parcels or Lots similarly benefited. The determination by the City Council of <br />the assessment methodology set forth below is the result of the discretionary exercise by <br />the City Council of its legislative authority and governmental powers and is conclusive and <br />binding on the Landowners and all future owners and developers of any Assessed <br />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 Public Improvements are provided solely for the benefit of the Assessed <br />Property. <br />When the City Council approved this SAP, the Landowners owned 100% of the Assessed <br />Property. The Landowners have acknowledged that the Public Improvements confer a <br />special benefit on the Assessed Property and consented to the imposition of the Special <br />Assessments to pay for the Actual Costs associated therewith. The Landowners have <br />ratified, confirmed, accepted, agreed to and approved: (i) the determinations and findings <br />by the City Council as to the special benefits described herein and the Assessment <br />Ordinance; (ii) the SAP and the Assessment Ordinance, and (iii) the levying of Special <br />Assessments on the Assessed Property. <br />11 <br />