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PART III. <br />LAUREL CREEK ESTATES GEOLOGIC HAZARD ABATEMENT <br />DISTRICT <br />METHOD USED IN FORMULATING ASSESSMENTS <br />A geologic hazard abatement district ("GRAD") is essentially a benefit <br />assessment district. The proposed estimated assessments set forth in <br />Part I above are based on the fact that the GRAD is comprised of <br />residential land uses (61 single-family residential lots in Tract 6400, 39 <br />single family residential lots in Tract 6590, 7single-family residential lots in <br />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 <br />Tract 6400, Parcels A. B, D, F, G, I, N & O, Tract 6590, Parcels A & B, and <br />Tract 7045, Parcel A, and Tract 6951, Parcels B, D & E with each such lot, <br />other than the open space parcels, sharing a similar amount of risk and <br />benefit. For the purpose of formulating GRAD assessments, the benefits <br />and burdens of the GRAD have been assessed equally to the 119 <br />residential lots and City water reservoir sites (2). <br />The total proposed budget for the fiscal year of the District (2007-08), in <br />the amount of $40,898, is allocated to the 119 residential lots and to the <br />City owned water reservoir sites (2). <br />