Laserfiche WebLink
Section VII <br />THE ASSESSMENT ROLL <br />A. Assessment Roll <br />The City Council has evaluated each Parcel and Lot within the Project (based on numerous <br />factors such as the applicable zoning for developable area, Non -Benefited Property, the <br />types of Public Improvements, and other development factors deemed relevant by the City <br />Council) to determine the amount of Assessed Property within the Parcels. <br />The Assessed Property will be assessed for the special benefits conferred upon the <br />property resulting from the Public Improvements and funded by the PID Bonds. Table VII <br />summarizes the $14,142,155 in special benefit received by the Assessed Property from the <br />Public Improvement Costs, the costs of the PID formation, and the planned PID Bond <br />issuance costs. The par amount of the PID Bonds are $14,125,000, which is less than the <br />benefit received by the Assessed Property. The Special Assessment for each Parcel or Lot <br />within the Assessed Property is calculated based on the allocation methodologies described <br />in Section IV.D and Section VI.B. The Assessment Roll is attached hereto as A1212endix A. <br />Public Improvement <br />Total Cost <br />Total Public Improvements <br />$ <br />10,399,030 <br />PID Formation/Bond Cost of Issuance <br />Reserve Fund <br />$ <br />1,412,500 <br />Capitalized Interest <br />$ <br />918,125 <br />Underwriter Discount/Underwriter Counsel <br />$ <br />423,750 <br />Cost of Issuance <br />$ <br />988,750 <br />PID Formation/Bond Cost of Issuance <br />$ <br />3,743,125 <br />Special Benefit <br />Total Special Benefit <br />$ <br />14,142,155 <br />Projected PID Special Assessment <br />$ <br />14,125,000 <br />Excess Benefit <br />$ <br />17,155 <br />24 <br />