AgdaPkt 2014-07-28 Closed, Special and Joint SA

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8.A. - Page 12 Additionally, the Economic Development Sub - Committee of the City Council discussed this issue on the following dates: October 21 2013, January 27 2014 February 25 2014 April 17 2014 May 29 2014 Boundaries: (Please CBID see map in Section 2) In general, the boundaries of the proposed Downtown Redwood City CBID are as follows: On the north, from the intersection of Maple and Veterans (south side) to the intersection of Brewster Street and Veterans (south side); On the south, from the intersection of Main and Pennsylvania (north side) to the intersection of El Camino and Brewster Street (north side); On the east, from the intersection of Pennsylvania and Maple, (west side) to the intersection of Veterans and Maple, (west side); On the west, from the intersection of El Camino and Brewster (east side) to the intersection of Veterans and Brewster (east side). Please see Section 2 for a full map and full description of the boundaries. Budget: The total first year Downtown Redwood City Community Benefit Improvement District budget will be $ 795,781.00. Please see Section 3 for a breakdown of the categories of special benefit services and their allocation of services by Benefit Zone. Benefit Zone 1 parcels will generate 43% of the overall annual first year budget, Benefit Zone 2 parcels will generate 57% of the annual first year budget. First Year Downtown Redwood City Community Benefit Improvement District Service Budget (Figures are rounded) PROGRAM OR ACTIVITY FUNDED BY THE APPROXIMATE% OF FIRST DOWNTOWN REDWOOD CITY ESTIMATED ANNUAL COSTS COMMUNITY BENEFIT IMPROVEMENT DISTRICT YEAR ANNUAL BUDGET Sidewalk Operations and Beautification 53% $ 423,000.00 District Identity and Signage 20% $ 160,000.00 Parking Management 7% $54,000.00 Administration /Corporate Operations 15% $ 120,000.00 Contingency /City and County Fees /Reserves 5% $ 38,781.00 TOTAL 100% $ 795,781.00 4