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Upon receiving the application, the community development director shall review the advance financing proposal and submit an engineer’s report to the city council for its review and discussion. The city council may accept or modify or deny the engineer’s report. The city council shall set a public hearing pursuant to MMC 3.14.050. Unless the city council directs otherwise, such report shall contain the following:

A. A map or plat showing the general nature, location and extent of the proposed improvement and the land to be assessed for the payment of any part of the cost thereof;

B. A summary of the project cost and the director’s analysis of whether these costs are reasonable;

C. A recommendation as to the method of assessment to be used to arrive at a fair apportionment of the whole or any portion of the cost of the improvement to the properties specially benefited;

D. The description of each lot, parcel of land, or portion thereof, to be specially benefited by the improvement, with the names of the record owner(s) thereof and, when readily available, the names of the contract purchasers thereof.

E. The proposed amount to be assessed to each lot, parcel of land or portion thereof. (Ord. 4730 §4, 2000).