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III. <br /> <br /> OAK TREE FARM GEOLOGIC HAZARD ABATEMENT DISTRICT <br /> METHOD USED IN FORMULATING ASSESSMENTS <br /> <br />A geologic hazard abatement district ("GHAD") is essentially a <br />benefit assessment district. The proposed estimated assessments <br />set forth in Part II above are based on the fact that the GHAD is <br />comprised of only two types of residential land use (23 single- <br />family flat land residential lots in Tract 6563 and the remaining <br />property in Parcel 6359), with each such Lot sharing a similar <br />amount of risk and benefit. <br /> <br />The GHADalso includes certain areas of open space, additional lots <br />with vesting tentative approval and PUD-approved lots in hillside <br />areas, which pose the bulk of the geologic questions which require <br />solutions at Oak Tree Farm. For the purpose of formulating GHAD <br />assessments.. the benefits and burdens of the GHAD have been <br />assessed equally to the 23 residential lots in one instance and to <br />the remaining parcels to be divided proportionately as to the area <br />owned and benefitted by the district. <br /> <br />The totals budget for the first fiscal year of the District (1994- <br />95), in the amount of $6,200.11 was allocated to the 23 residential <br />lots and $ 0 was allocated to the remaining parcels. This base <br />rate is subject to the annual adjustment provided for in Part II <br />above. <br /> <br /> <br />