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P^RT 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 <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 <br />uses (61 single-family residential lots in Tract 6400, 39 single family <br />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 <br />space parcels Tract 6400 Parcels A. B, D, F, G, I, N & O, Tract 6590 Parcels <br />A & B, and Tract 7045 Parcel A, with each, other than the open space <br />parcels..., sharing a similar amount of risk and benefit. For the purpose of <br />formulating GHAD assessments, the benefits and burdens of the GHAD have <br />been assessed equally to the 107 residential lots and City water reservoir sites <br />(2). <br /> <br />The total proposed budget for the fiscal year of the District (200*05), in the <br />amount of $32,700, is allocated to the 107 residential lots and to the City <br />owned water reservoir sites (2). <br /> <br /> <br />