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Traffic Factor <br />The following adjustments to the assessment rate based on traffic counts on the <br />road to be improved are recommended. <br />ADT Factor <br />0-1000 100% <br />1000-3500 70% - 40% <br />3500-6600 40% - 25% <br />6600 and up 25% - 0% <br />Proposed methodology to be implemented <br />1. Determine total project cost (estimated /actual). <br />2. Multiply residential equivalent factor and total to determine total number of <br />assessable units. <br />3. Divide total cost by total number of assessable units to get 100% assessed rate. <br />4. Multiple 100% assessed rate by project type factor to get project adjusted rate. <br />5. Multiply project adjusted rate by ADT adjustment factor to get final assessment rate. <br />Proposed Main Street Example <br />(5200 - 6500 ADT) <br />Total Estimated Cost = $671,500 <br />Total assessable units (estimated) = 75 <br />100% assessed rate = $671,500 / 75 = $8,953.33 <br />Project adjusted rate = $8,953.33 x 70% (FDR) _ $6,267.33 <br />Final assessment Rate (high) _ $6,267.33 x 40% _ $2,506.93 <br />Final assessment Rate (low) _ $6,267.33 x 25% _ $1,566.83 <br />The resulting range in proposed assessment is based on applying a range of ADT <br />adjustment factors of 25% to 40% as suggested in the policy above. The City council <br />should determine a specific percentage to apply to this factor if this method is intended <br />to be applied. <br />