Laserfiche WebLink
City may use any method or combination of methods to compute assess- <br /> ments which may be deemed to fairly reflect the special benefits to <br /> the properties being assessed, and such mode of assessment shall be <br /> substantially as follows: <br /> Approximately 32. 6% of the amount to be charged the properties <br /> specially benefited shall be charged to the properties lying between <br /> the termini of the improvement and extending back from the marginal <br /> lines thereof to the middle of the block (or 90 feet back, whichever <br /> is greater) on each side thereof, and approximately 67. 4% of the amount <br /> to be charged shall be charged to the remainder of the properties in <br /> the district. Assessments shall be computed based upon gross property <br /> areas with two zone designations which reflect a combination of prox- <br /> imity to the improvement and parking deficiencies, being a core and a <br /> peripheral zone. A benefit factor of 100% shall be applied against <br /> the assessment area in the core zone, and a factor of 50% shall be <br /> applied in the peripheral zone. The net assessment area multiplied by <br /> the zone factor (relative benefit factor) shall determine the assess- <br /> ment units. Without limitation as to other equities Council may consider <br /> in establishing the assessment, a credit system for certain qualified properties <br /> presently offering off-street parking shall be established, and property area <br /> credits shall be allocated for parking provided in all permanent <br /> structures and for an appropriate portion of those surface lots in <br /> areas where the City zoning ordinance requires that parking be provided. <br /> The area subject to credit shall be deducted from the gross property <br /> area to calculate the assessment area. <br /> Section 5. The City shall finance the remaining cost and <br /> expense of the acquisition of said land and construction of said off- <br /> street parking facility thereon by the issuance and sale of off-street <br /> parking revenue bonds in one or more series to be paid out of the <br /> revenues derived from the operation of said facilities and in addition <br /> thereto from such amount of revenues from on-street parking meters as <br /> the City shall hereafter determine to pledge for such purpose. <br /> -5- <br />