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Macaulay &Associates, Ltd. 9 <br /> 2927 Colby Avenue, Suite 100 <br /> Everett, WA 98201 <br /> (425)258-2611-Everett <br /> (206)382-9711-Seattle <br /> (425)252-1210-Fax <br /> Charles R.Macaulay,MAI Paul C.Bird <br /> Robert J.Macaulay,MAI Richard J.DeFrancesco <br /> Jim E.Dodge Greg Muller <br /> Yvonne Alexander-Smith Kelly R.Hao <br /> Whitney B. Haucke, CPA Teresa M.Cornellison <br /> March 16, 2005 <br /> Mr. Brian Jones, Engineering Services Manager <br /> City of Everett <br /> Public Works Department <br /> 3200 Cedar Street <br /> Everett, WA 98201 <br /> Re: Segregation of LID No. 726 Assessment for former Washington Services, Inc./HDMC property <br /> currently identified as Treasurer's Account No. 0089. <br /> Dear Mr. Jones: <br /> This letter is in reference to segregation of the LID assessment levied against the parcel identified below. It <br /> is one of four portions created from a Iarger parcel in January 2003 under Binding Site Plan No. 1571-01-02. <br /> The current owners of this 11.71± acre parcel are now requesting segregation of the remaining principal <br /> balance for LID No.726 into three portions,consistent with the most recent City of Everett Binding Site Plan <br /> No. 1571-04-04 recorded under Snohomish County Auditor's File No. 200404265093. The entire land area • <br /> of all three newly created lots is buildable. <br /> The developers of Seaway Center have been spreading the assessment burden on portions of the industrial <br /> park already sold based on a uniform amount per buildable square foot. Since the original assessments <br /> recommended by our office were based on special benefit accruing to the buildable areas of all affected <br /> ownerships, this proposed segregation procedure is fair and equitable and will preserve the security of the <br /> bonds issued to finance the local improvement district. <br /> Please refer to the following facts and figures pertaining to this property. <br /> Existing LID Parcel <br /> Tax Account No. 2804-0200-402300 (old parcel no. 022804-2-002-400200) <br /> Treasurer's No. 0089 <br /> Original Assessment: $56,760.92* <br /> Current Principal Balance: $47,300.77 <br /> *Original assessment of$2,020,764 was previously segregated in December 1989,February 1990 and March <br /> 2004. <br /> 63 <br />