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-2- <br /> 2. We then began our field investigation, surveys , <br /> and office design. During the course of our studies, it was de- <br /> termined that the major portion of Fernhill between Camino Hermosa <br /> iiW and Lomita Linda would have to be reconstructed, along with the <br /> main portion of the project , in order to meet Town Standards, Upon <br /> completion of the project design, an engineer' s estimate was pre- <br /> pared disclosing the total cost of the project at $16,276.52. <br /> 3. A meeting was held early in March with Dr. James <br /> Cross and Mr. Linn Hunton, who, it was understood, were spokesmen <br /> for the Assessment District. We were informed that it was the de- <br /> sire oftheDistrict to have the assessment spread on a "building <br /> site" basis. We were further+informed that the District was will- <br /> ing to have that certain 6.43- acre parcel belonging to Mrs. Grace <br /> Green assessed as one building site with the understanding that a <br /> refunding agreement would be made between members of the District <br /> and Mrs. Green, should she develop her property at any future date . <br /> The spokesmen then requested, for the District , that that certain <br /> 1. 57- acre parcel belonging to Mrs. Bernardine Craig be included <br /> in the District at no assessment , with the understanding that a <br /> refunding agreement would be made between members of the District <br /> and Mrs. Craig should she construct access from the aforementioned <br /> parcel to Fernhill Avenue, which access does not exist at present . <br /> 4. We then consulted with you and Mr. Faisant , before <br /> setting the final boundaries. Unanimous agreement was reached on <br /> the items outlined inparagraph 3 above , and the inclusion of the <br /> Gieseker property. District boundaries were then drawn to include <br /> all propery adjacent to and having access from Fernhill Avenue. <br /> We then spread the assessment . <br /> 5. The arithmetic of the assessment spread is as <br /> follows : <br /> a. Total cost of project = $36,276.52 <br /> b. Total building sites = 20 <br /> c. Building sites on former Gieseker property = 4 <br /> d. Remaining building sites = 16 <br /> e . Since $1200 had been paid by Mr. Gieseker, <br /> the assessment for each of the 4 parcels noted <br /> in (2) above is $300 less than the normal <br /> assessment . <br /> f. To solve for the assessment , we let <br /> M = normal assessment, in dollars <br /> N = assessment for each of the 4 parcels noted <br /> (c) above , in dollars <br /> from (e) above : <br /> M = N + $300 or N = M - $300 <br /> and from (c) and (d) above : <br /> 16M = 4N = $16,276.52 <br /> substituting- <br /> 16M r .4(M-300) _ $16,276.52 <br /> 16M + 4M - 1200 s,$16,276.52 <br /> 20M 7 16,276-.52 + 1200- =, $17,476. 52 <br /> = M 6 $873.83 <br /> - N'•= $573.83 <br />