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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 district. <br />The proposed estimated assessments set forth in Part I above are based on the fact that the <br />GHAD is comprised of residential land uses (61 single-family residential lots in Tract 6400, <br />39 single family residential lots in Tract 6590, and 7 single-family residential lots in Tract <br />7045), the City owned water reservoir sites (2), and the remaining open space parcels <br />Tract 6400 Parcels A. B, D, F, G, I, N & O, Tract 6590 Parcels A & B, and Tract 7045 <br />Parcel A, with each, other than the open space parcels..., sharing a similar amount of risk <br />and benefit. For the purpose of formulating GHAD assessments, the benefits and burdens <br />of the GHAD have been assessed equally to the 107 residential lots and City water <br />reservoir sites (2). <br /> <br />The total proposed budget for the fiscal year of the District (2003-04), in the amount of <br />$32,700, is allocated to the 107 residential lots and to the City owned water reservoir sites <br />(2). <br /> <br />SR:03:138 <br />Page 23 <br /> <br /> <br />