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<br />PART 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 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 <br />residential lots in Tract 6400, 39 single family residential lots in Tract 6590, 7 single- <br />family residential lots in Tract 7045, and 12 single family residential lots in Tract 6951), <br />the City owned water reservoir sites (2), and the remaining open space parcels Tract <br />6400, Parcels A. 8, D, F, G, I, N & 0, Tract 6590, Parcels A & 8, and Tract 7045, <br />Parcel A, and Tract 6951, Parcels 8, D & E with each such lot, other than the open <br />space 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 been <br />assessed equally to the 119 residential lots and City water reservoir sites (2). <br /> <br />The total proposed budget for the fiscal year of the District (2006-07), in the amount of <br />$37,994, is allocated to the 119 residential lots and to the City owned water reservoir <br />sites (2). <br /> <br />SR:06:l89 <br />Page 30 of37 <br />