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PART III. <br /> LAUREL CREEK 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 the following land uses: <br /> Single Family Residential Lots: <br /> Tract 6400 (Lots 1 to 61) <br /> Tract 6590 (Lots 1 to 39) <br /> Tract 7045 (Lots 1 to 7) <br /> Tract 6951 (Lots 1 to 12) <br /> Open Space, Access, or Private Park Parcels: <br /> Tract 6400 (Parcels A, B, D, F, G, H, I, K, N & O) <br /> Tract 6590 (Parcels A & B) <br /> Tract 6951 (Parcels B, D) <br /> Tract 7045 (Parcel A) <br /> City Water Reservoirs: <br /> Tract 6400 (Portion of Parcel B and Parcel L) <br /> Each such land use, other than the open space, access, and private park parcels, share <br /> 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 parcels. <br /> The total proposed budget for the fiscal year of the District (2023-24), in the amount of <br /> $65,393.00, is allocated to the 119 residential lots and to the two City owned water <br /> reservoir parcels, and includes interest income. <br />