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<br />7 <br /> <br />Accumulated Cost Assessment for Benefit Zones 1 and 2: <br /> <br />Property Variable Sub-category Benefit Zone 1 Benefit Zone 2 <br />Linear Frontage $ 4.1150980 $ 2.5796200 <br />Lot Size square footage <br />(Accumulated costs <br />based upon services) <br />Lot/Sidewalk <br />Operations $ 0.0490080 $ 0.0242250 <br /> Lot/Admin $ 0.0188110 $ 0.0188110 <br /> Lot/Contingency $ 0.0047645 $ 0.0047645 <br /> Total Lot Costs $ 0.0725835 $ 0.0478005 <br />Bldg square footage $ 0.0459850 $ 0.0459850 <br />Residential Condo <br />Building square foot <br /> <br />$0.20 square foot $0.020 square foot <br /> <br />Annual Costs: <br />Annual assessments are based upon an allocation of program costs by assessable linear <br />frontage (by Benefit Zone), assessable on all sides of the parcels that receive benefit; PLUS lot <br />or parcel square footage; PLUS assessable building square footage, and in the case of <br />residential condos, by building square footage. The residential condo owners are assessed <br />differently since they are, in essence, acquiring air rights with the condos and linear frontage <br />and lot size is not relevant to their parcels. This alternate assessment methodology is created <br />to respond to their special needs of homeowners within this growing Downtown district. All <br />four property variables, including an individual parcel’s location within the designated areas for <br />Benefit Zone will be used in the calculation of the annual assessment. The FY 2013-14 year <br />annual assessments per property variable and Benefit Zone are as follows: <br /> <br />Linear Frontage costs: Benefit Zone 1 $4.115098 per linear foot/year <br /> Benefit Zone 2 $2.579620 per linear foot/year <br /> <br />Building Square Footage costs: $0.045985 per square foot/year <br /> <br />Lot Size costs: Benefit Zone 1 $0.0725835 per square foot/year <br /> Benefit Zone 2 $0.0478005 per square foot/year <br /> <br />Residential Condo costs: $0.20 per square foot of parcel unit square footage <br /> <br />Assessment District Revenue Generation from each property variable: <br /> <br />Linear Frontage (Both Zones): $ 117,088 <br />Building Square Footage: $ 50,000 <br />Lot Size: $ 193,224 <br />Residential Condos $ 24,368 <br /> <br />Total: $ 384,680