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PART III. <br /> LAUREL CREEK ESTATES GEOLOGIC HAZARD ABATEMENT <br /> DISTRICT <br /> METHOD USED IN FORMULATING ASSESSMENTS <br /> A geologic hazard abatement district ("GHAD") is essentially a benefit <br /> assessment district. The proposed estimated assessments set forth in Part <br /> I above are based on the fact that the GHAD is comprised of residential <br /> land uses (61 single-family residential lots in Tract 6400, 39 single family <br /> residential lots in Tract 6590, 7 single-family residential lots in Tract 7045, <br /> and 12 single family residential lots in Tract 6951 ), the City owned water <br /> reservoir sites (2), and the remaining open space parcels Tract 6400, <br /> Parcels A. B, D, F, G, I, N & 0, Tract 6590, Parcels A & B, and Tract 7045, <br /> Parcel A, and Tract 6951 , Parcels B, D & E with each such lot, other than <br /> the open space parcels, sharing a similar amount of risk and benefit. For <br /> the purpose of formulating GHAD assessments, the benefits and burdens <br /> of the GHAD have been assessed equally to the 119 residential lots and <br /> City water reservoir sites (2). <br /> The total proposed budget for the fiscal year of the District (2011-12), in the <br /> amount of $43,802, is allocated to the 119 residential lots and to the City <br /> owned water reservoir sites (2). <br />