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TYPICAL NEW BRIGHTON SINGLE FAMILYLOT <br />75 FEET X 135 FEET = 10,125 SQUARE FEET <br />LAKE DIANE COURT <br />23RD AVENUE NW <br />23RD AVENUE NW CONDOMINIUM <br />599 FEET OF FRONTAGE <br />599 / 75 (standard lot frontage) _ <br />TOTAL ASSESSABLE LOTS <br />14 LOTS <br />27 LOTS <br />8 LOTS <br />49 LOTS <br />The assessable properties are shown in yellow on the Project Area Map on page 1. <br />Dividing the cost to be assessed of $113,000 by 49 assessable lots equals an estimated <br />assessment rate of $2,306 per lot. <br />23rd Avenue NW Condominiums contains 8 assessable lots and dividing the total estimated <br />assessment for 23rd Avenue NW Condominiums of $18,450 by the total of 30 units equals an <br />estimated rate of $615 per unit. <br />CALCULATION DETAILS <br />TOTAL COST TO BE ASSESSED <br />ASSESSMENT RATE $113,000/49 LOTS <br />23rd AVENUE NW SINGLE FAMILY = 27 LOTS * $2,306/LOT <br />23rd AVENUE NW CONDOMINIUM = 8 LOTS * $2,306/LOT <br />$18,450 /30 UNITS <br />LAKE DIANE COURT SINGLE FAMILY = 14 LOTS * $2,306/LOT <br />TOTAL ASSESSED $62,250 + $18,450 + $32,300 <br />= $113,000 <br />= $2,306/LOT <br />= $62,250 <br />= $18,450 <br />= $615/UNIT <br />= $32,300 <br />= $113,000 <br />The estimated street assessment rate for proposed Project 14 -1 is: <br />$2,306 PER LOT (23RD AVENUE AND LAKE DIANE COURT) <br />$613 FOR THE 23RD AVENUE CONDOMINIUMS <br />(Assessment rate calculations can be found in Appendix B) <br />ASSESSMENT PROCEDURE - A special assessment hearing would be required to levy <br />assessments if the project is ordered by the City Council and the project is constructed as <br />2 <br />