Laserfiche WebLink
HERON BAY MAINTENANCE ASSESSMENT DISTRICT <br />ASSESSMENT DISTRICT NO. 96-3 <br />CITY OF SAN LEANDRO <br />EXHIBIT B (continued) <br />The District was formed at the end of FY 1995-96 and was first assessed for FY `96-'97. <br />Until such time as the Army Corps of Engineers, or any other applicable governmental regulatory <br />agency, releases Citation Homes from any further monitoring requirements associated with the <br />implementation of the Mitigation and Monitoring Plan for the Citation Marsh, Citation Homes <br />Central will assume all responsibilities, take any and all necessary actions, and pay all costs for <br />remediation or work of any kind necessary to bring the Citation Marsh into compliance with the RMI <br />Mitigation and Monitoring Plan wherein such compliance shall be determined by the Army Corps <br />of Engineers or any other applicable governmental regulatory agency. Therefore, this District shall <br />annually reimburse to Citation Homes Central those actual, documented costs incurred by them <br />during the intervening period of time from the establishment of this District until regulatory <br />compliance has been obtained, said annual reimbursement shall not exceed the estimated cost of this <br />work listed as Item 4.b) in the Cost Estimate incorporated in this Exhibit B. Following full <br />regulatory compliance, this District will assume full responsibility for the operation and maintenance <br />of Citation Marsh. <br />As to the amount of the maximum annual assessment which may be levied in future years, it is the <br />intent of this District that the maximum assessments for FY 1996-97 be increased by 2 % each <br />successive year (over the rate of the previous year) to approximate increases in costs of maintenance. <br />The proposed assessments include a Maintenance Reserve Fund to be accumulated at the rate of <br />$60,000 per year to a maximum reserve of $300,000. Depletions of this reserve will be recovered <br />by increasing the annual assessments of succeeding years, up to the maximum increase of 2% as <br />described above, until the reserve is restored in full. <br />9 <br />