Reso 2002-110 - Laserfiche WebLink

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4.4. Maximum Assessments for the Motor Court Units There are one hundred seventy-eight (178) subdivided motor court units within the District. Each of the planned motor court units are deemed to receive proportional special benefit from the maintenance and operation of the improvements. When the District was formed in fiscal year 1996/97, a basic assessment, per lot per year was established for the motor court units. In addition, an annual maximum assessment was also established for each future year, which included a cost of living increase to allow for reasonable increases in maintenance costs. An additional reserve fund of$70.22 per unit will be included in the motor court assessment per unit for each of the first five years. Beginning with the sixth year (FY 2001/02), and for each year thereafter, this "Additional Reserve Fund" will only be levied to the extent necessary to replenish the monies spent from the Reserve Fund during the previous year for maintenance costs which exceed the"annual Maximum Assessment"income. The District Reserve Fund is fully funded as of June 30, 2001, therefore the "Additional Reserve Fund"will not be collected in Fiscal Year 2002/03. The table on the following page reflects the basic assessment, annual maximum assessment including a cost of living increase, the additional reserve fund component and the total maximum assessment for motor court units per year through fiscal year 2025/26. 4-2