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<br /> <br />Section IV <br /> <br />ASSESSMENT PLAN <br /> <br />A.Introduction <br /> <br /> <br />The PID Act requires the City Council to apportion the cost of the Public Improvements based <br />on the special benefits conferred to each Parcel or Lot from the Public Improvements. The <br />PID Act provides that the Actual Costs may be assessed: (i) equally per front foot or square <br />foot; (ii) according to the value of the property as determined by the governing body, with <br />or without regard to improvements on the property; or (iii) in any other manner that results <br />in imposing equal shares of the cost on property similarly benefited. The PID Act further <br />provides that the City Council may establish the methods of assessing the special benefits for <br />various classes of improvements. <br /> <br />The 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 /> <br /> <br />B.Special Assessment Methodology <br /> <br /> <br />The City Council has determined that the costs of the Public Improvements shall be allocated <br />to the Assessed Property by spreading the entire Special Assessment across all Assessed <br />Property based on the ratio of the estimated build out value of each Lot to the total build out <br />value for all Parcels. Table IV-A summarizes the allocation of the Initial Special Assessments <br />and Additional Special Assessments. <br /> <br /> <br /> <br /> <br /> <br /> <br />12 <br /> <br /> <br />