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PART III. <br /> <br />LAUREL CREEK ESTATES GEOLOGIC HAZARD ABATEMENT DISTRICT <br /> METHOD USED IN FORMULATING ASSESSMENTS <br /> <br />A geologic hazard abatement district ("GHAD") is essentially a benefit assessment <br />district. The proposed estimated assessments set forth in Part I above are based on <br />the fact that the GHAD is comprised of residential land uses (61 single-family <br />residential lots in Tract 6400, 39 single family residential lots in Tract 6590, and 7 <br />single-family residential lots in Tract 7045), the City owned water reservoir sites (2), <br />and the remaining open space parcels Tract 6400 Parcels A. B, D, F, G, I, N & O, <br />Tract 6590 Parcels A & B, and Tract 7045 Parcel A, with each, other than the open <br />space parcels...., sharing a similar amount of risk and benefit. For the purpose of <br />formulating GHAD assessments, the benefits and burdens of the GHAD have been <br />assessed equally to the 107 residential lots and City water reservoir sites (2). <br /> <br />The total proposed budget for the fiscal year of the District (2001-02), in the amount <br />of $30,629, is allocated to the 107 residential lots and to the City owned water <br />reservoir sites (2). <br /> <br /> <br />