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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 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 residential <br /> lots in Tract 6400, 39 single family residential lots in Tract 6590, 7 single-family <br /> residential lots in Tract 7045, and 12 single family residential lots in Tract 6951), the City <br /> owned water 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, Parcel A, <br /> and Tract 6951, Parcels B, D & E with each such lot, other than the open space parcels, <br /> sharing a similar amount of risk and benefit. For the purpose of formulating GHAD <br /> assessments, the benefits and burdens of the GHAD have been assessed equally to <br /> the 119 residential lots and two City water reservoir sites. <br /> The total proposed budget for the fiscal year of the District (2020-21), in the amount of <br /> $61,400.00, is allocated to the 119 residential lots and to the two City owned water <br /> reservoir sites and includes interest income. <br />