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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 <br /> in Part I above are based on the fact that the GHAD is comprised of <br /> residential land uses (61 single-family residential lots in Tract 6400, <br /> 39 single family residential lots in Tract 6590, 7 single-family <br /> residential lots in Tract 7045, and 12 single family residential lots in <br /> Tract 6951 ), the City owned water reservoir sites (2), and the <br /> remaining open space parcels Tract 6400, Parcels A. B, D, F, G, I, N <br /> & 0, Tract 6590, Parcels A & B, and Tract 7045, Parcel A, and Tract <br /> 6951 , Parcels B, D & E with each such lot, other than the open space <br /> parcels, sharing a similar amount of risk and benefit. For the purpose <br /> of formulating GHAD assessments, the benefits and burdens of the <br /> 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 (2012-13), <br /> in the amount of $44,649.00, is allocated to the 119 residential lots <br /> and to the City owned water reservoir sites (2). <br />