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PART III. <br /> LAUREL CREEK ESTATES GEOLOGIC HAZARD ABATEMENT 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 I <br /> above are based on the fact that the GHAD is comprised of residential land uses <br /> (61 single-family residential lots in Tract 6400, 39 single family residential lots in <br /> Tract 6590, 7 single-family residential lots in Tract 7045, and 12 single family <br /> residential lots in 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& 0, Tract <br /> 6590, Parcels A& B, and Tract 7045, Parcel A, and Tract 6951, Parcels B, D & E <br /> with each such lot, other than the open space parcels, sharing a similar amount <br /> of risk and benefit. For the purpose of formulating GHAD assessments, the <br /> benefits and burdens of the GHAD have been assessed equally to the 119 <br /> residential lots and City water reservoir sites (2): <br /> The total proposed budget for the fiscal year of the District (2014-15), in the <br /> amount of$46,464.00, is allocated to the 119 residential lots and to the City <br /> owned water reservoir sites(2). <br />