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8.A. - Page 331 <br /># B.A. - Page 88 <br />Page i <br />This balance of $65,600 could titan be equally distri-buted over the total 23 <br />vacant lots on Laurel Way which would result in SM per lot. <br />This Option directly benefits the property owners since the City makes an initial <br />contribution up int#, ameby reducing the property owner's eontributlan to <br />the $IR. Also, this option allows the City to make its "fair share" roxtiributiaa <br />based on the land area it will hold in the I.atxed Way SuWvlsiam (the public <br />rightrokwap). Howevier, as with every t+eimbutsentatt there are <br />certain long andcera�beravagne that must occur, and there b no <br />gtxatat€tee tat hthe EIR will. tm comp autos the reimbwseumt aVemmt is <br />subject to a mijority protest, which can be overriden by Cannell by a 4/5th vote. <br />The City may also elect to split the cost of tt ElR in half and pray $40,000. <br />Under such a scenario, the property owners of the 233 vamt lots would pay <br />about $1740 per lot. <br />This option provides a greater benefit to the property owner$, al&Ough the City <br />puts more money up fumt at risk and may bee pWng more tion its fair share. <br />The City could also decide to pay none or all of the FAIR costs. if the City Mose <br />M to cottribule any funds, ice. the vacant property owners would be <br />respormible for the entire $80AW cast, and then the assessment would be $3480 <br />per vacant lot. <br />The payment options are swnmarimd in dw fallowing table: <br />'C k: <br />,000 W49Dl bO <br />,6W %=/lot) <br />$40,000 ($1740/lot) <br />$0 <br />$80, <br />D,M <br />$80,000 <br />" Costs do not include City's administrative costa white uswjly nm annyvimro <br />from I0% to 20% of M coat. <br />