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PART III. <br />LAUREL CREEK ESTATES GEOLOGIC HAZARD ABATEMENT 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 Part <br />above are based on the fact that the GRAD is comprised of residential land uses <br />(61 single-family residential lots in Tract 6400, 39 single family residential lots in <br />Tract 6590, 7single-family residential lots in Tract 7045, and 12 single family <br />residential lots in Tract 6951), the City owned water reservoir sites (2), and the <br />remaining open space parcels Tract 6400, Parcels A. B, D, F, G, I, N & O, Tract <br />6590, Parcels A & B, and Tract 7045, Parcel A, and Tract 6951, Parcels B, D & E <br />with each such lot, other than the open space parcels, sharing a similar amount <br />of risk and benefit. For the purpose of formulating GRAD assessments, the <br />benefits 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 the <br />amount of $40,898, is allocated to the 119 residential lots and to the City owned <br />water reservoir sites (2). <br />