Reso 2005-091 - Laserfiche WebLink

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4.5. District Reserve Fund Balance A District Reserve Fund has been established, and was accumulated through a component of the annual assessments through Fiscal Year 2000/01. For Fiscal Year 2005/06 the city has planned a 2"~ phase of landscape renovation in the Storm Water Treatment Pond property on the south side and area adjacent to the Buffer Zone. Property owners will not be assessed at the maximum allowable rate in Fiscal Year 2005/06 because the Reserve Fund has been fully funded and assessments previously collected will pay the costs of the project. 4.6. Calculation of Fiscal Year 2005/06 Assessments Descri tion Fiscal Year 2005/06 Amount The Fiscal Year 2005/06 assessments are calculated as follows: Calculation of Net Assessments for Fiscal Year 2005106: Total Estimated District Costs Fiscal Year 2005/06 $237,369.00 Calculation of Maximum Assessments for Fiscal Year 2005106: 451 Single Famil Detached Lots @ $532.86 per lot per year $240,319.86 178 Motor Court Units $355.22 per unit per ear 63,229.16 Total Maximum Allowable Assessments for Fiscal Year 2005106 $303,549.02 Calculation of Actual Assessments for Fiscal Year 2005106 Total Estimated District Costs Fiscal Year 2005/06 $237,369.00 Total Assessments at Maximum Rates $303,549.02 Single Family Detached Rate $532.86 x 78.20% $416.68 per lot Motor Court Unit Rate $355.22 x 78.20% $277.79 per lot Actual Assessments for Fiscal Year 2005/06: 451 Single Family Detached Lots @ $416.68 per lot per year $187,922.68 178 Motor Court Units @ $277.79 per unit per year 49,446.62 Total Assessments for Fiscal Year 2005106 $237,369.30 Fiscal Year 2005/06 assessments to be levied at 78.20% of Maximum. Prepared by NBS 4-5