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Street /Sidewalk Frontage <br />30% <br />Parcel Size (Land Area) <br />30% <br />Building Area <br />30% <br />Flat Parcel Fee <br />10% <br />100% <br />YEAR 1 <br />or $276,000 <br />or $276,000 <br />or $276,000 <br />or $ 92,000 <br />$920,000 <br />YEAR 3* <br />$216,600 <br />$216,600 <br />$216,600 <br />$ 92,000 <br />$722,000 <br />* Note: Years 3 -5 revenue projections are based on reduced boundaries. <br />Within the CMD there are 292 22-4? 8-9 parcels with roughly 60,080 40,009 <br />28,500 linear feet of street frontage, 9-9 �' million square feet of land and 2.5 <br />34 2.5 million square feet of building area. A list of all parcels in the CMD is <br />shown in Appendix A. Using the cumulative property- related data totals from <br />above, the base Year 1 assessment rates are set at $6 per linear foot of street <br />frontage, 10 cents per square foot of land area, and 15 cents per square foot of <br />building area (based on gross exterior building dimensions). The parcel fee shall <br />be $425 per parcel. <br />Due to identified diminished benefits and a number of formula adjustment factors <br />for certain land uses, parcel configurations and other circumstances are also <br />incorporated into the proposed CMD formula as follows: <br />1. Single- family residential uses are set at a rate of 10 cents per square foot of <br />building pad, from nee to fe it iinitc ore cot of o flat rote of $400 per i1nit <br />n- vrn— vrr�rcr,vararnrs arc�cc- crc- a— rrcrc -rcr cr -arnz <br />(includes residential condos). <br />2. Multi- family residential uses „f five nr mere ­nits are set at 60 25 percent of <br />respective base assessment rates (apartments). <br />3. Nonprofit- (501 c3) owned /occupied properties are set at 50 25 percent of <br />respective base assessment rates. <br />4. Building areas are capped at a floor area ratio (FAR) of 4.0. <br />5. Government - owned /occupied properties will not be assessed and will receive <br />no direct services. <br />6. Residential uses, regardless of the number of units, that are 100 percent <br />project -based rental assistance programs; for example, senior housing and <br />the like, will not be assessed and will receive no direct services. <br />7. Mixed -use properties /complexes will generally be assessed based on <br />prorated land -use ratios, using the following guidelines: <br />Commercial /Office Condos — No Residential Uses (multiple owners) <br />2 Correcting plan figures /wording on the plan to match that as previously adopted by City Council on October 6, <br />2008, agenda item 55B. <br />