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<br />City of San Leandro Heron Bay Maintenance Assessment District No. 96-3 Page 8 <br />C. Maximum Assessments for Single Family Detached Units <br /> There are four hundred fifty-one (451) subdivided detached single-family parcels within <br /> the District. Each of these is deemed to receive proportional special benefit from the <br /> maintenance and operation of the improvements. When the District was formed in Fiscal <br /> Year 1996/1997, a basic assessment, per lot per year was established for the single family <br /> detached lots. In addition, an annual maximum assessment was also established for <br /> each future year, which included a cost of living increase to allow for reasonable <br /> increases in maintenance costs. An additional reserve fund of $105.32 per lot was <br /> included in the single family detached assessment per lot for each of the first five years. <br /> <br />Beginning with the sixth year (FY 2001/2002), and for each year thereafter, this <br /> "Additional Reserve Fund" will only be levied to the extent necessary to replenish the <br /> monies spent from the Reserve Fund during the previous year for maintenance costs <br /> which exceed the "annual Maximum Assessment" income. <br /> <br /> The District Reserve Fund was not fully funded as of June 30, 2023 therefore, the <br /> "Additional Reserve Fund" will be collected in Fiscal Year 2023/2024. <br /> <br />The table on the following page reflects the basic assessment, annual maximum assessment <br />including a cost of living increase, the additional reserve fund component and the total maximum <br />assessment for single family detached lots per year through Fiscal Year 2025/2026. <br />