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

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8.A. - Page 70 THE DOWNTOWN REDWOOD CITY CBID — ENGINEER'S REPORT Proposition 218 ballot procedure in order to approve any such changes. Step 2. Quantify Total Basic Benefit Units Taking into account all identified benefiting properties and their respective assessable benefit units, there are 2,346,119 Benefit Units A, 4,153,988 Benefit Units B, 44,531 Benefit Units C, and 5,957 Benefit Units D. It is noted that non- assessable building areas for publicly owned parcels and non -profit owned and occupied parcels are not included in the Unit A quantities shown below. The measurable assessable quantities for each assessable property characteristic for each benefit zone are shown in the table below: Benefit Unit Quantities by Zone for YR 1— 2014 -15 ZONE 1 ZONE 2 TOTAL Total Building Area - Sq Ft (Unit A) 1,087,333 1,258,786 2,346,119 Total Land Area - Sq Ft (Unit B) 1,527,485 2,626,517 4,153,988 Total Street Frontage - Linear Ft (Unit C) 16,838 27,693 44,531 Res Condo Bldg Pad Area - Sq Ft (Unit D) - - 5,957 The assessment revenue generated per assessable property characteristic for each benefit zone is shown in the table below: Assessment Revenue Allocation by Factor by Zone for YR 1— 2014 -15 ZONE 1 ZONE 2 TOTAL Total Building Area - Sq Ft (Unit A) $118,954 $94,035 $212,989 Total Land Area - Sq Ft (Unit B) $58,304 $100,254 $158,558 Total Street Frontage - Linear Ft (Unit C) $159,961 $263,082 $423,043 Res Condo Bldg Pad Area - Sq Ft (Unit D) - - $1,191 Sten 3. Calculate Benefit Units for Each Property. The number of Benefit Units for each identified benefiting parcel within the proposed Downtown Redwood City CBID was computed from data extracted from County Assessor records and maps. These data sources delineate current land uses, building areas, property areas and dimensions of record for each tax parcel. While it is understood that this data does not represent legal field survey measurements or detailed title search of recorded land subdivision maps or building records, it does provide an acceptable basis for the purpose of calculating property based assessments. All respective property data being used for assessment computations will be provided to each property owner in the CBID for their review. All known or reported discrepancies, errors or misinformation will be corrected. Sten 4. Determine Assessment Formula Based on the nature of the programs to be funded as well as other rationale outlined in Step 1 above, the proposed Downtown Redwood City CBID assessments will be based on building area, land area, street frontage, and location in the 23