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THE DOWNTOWN REDWOOD CITY CBID — ENGINEER'S REPORT 8.A. - Page 71 <br /> CBID. It is noted that for publicly owned parcels and tax exempt owned and occupied parcels, building areas will not be <br /> assessed since this property characteristic will fund 100% of the District Identity programs (i.e. image and marketing) and <br /> Benefit Zone 1 Parking Management and it is clear that such land use ownership types will not specially benefit from these <br /> programs which are intended to increase commerce, sales, manage parking demand and facilitate business transactions. <br /> The assessment formula by Zone is as follows: <br /> Zone 1 Assessment = Building Area (Unit A -1) Sq Ft x Unit A -1 Rate, plus <br /> Land Area (Unit B -1) Sq Ft x Unit B -1 Rate, plus <br /> Street Frontage (Unit C -1) Lin Ft x Unit C -1 Rate <br /> Zone 2 Assessment = Building Area (Unit A -2) Sq Ft x Unit A -2 Rate, plus <br /> Land Area (Unit B -2) Sq Ft x Unit B -2 Rate, plus <br /> Street Frontage (Unit C -2) Lin Ft x Unit C -2 Rate <br /> Residential Condominium Assessments = Building Pad Area (Unit D) Sq Ft x Unit D Rate <br /> Computing Assessment Formula Unit Rates Year 1— 2014 -15 <br /> Zone 1 — Building Area Rate (Unit A -1) <br /> $118,954 / 1,087,333 sq ft = $0.1094/sq ft <br /> Zone 1 — Land Area Rate (Unit B -1) <br /> $58,304 / 1,527,485 sq ft = $0.038170/sq ft <br /> Zone 1 — Street Frontage Rate (Unit C -1) <br /> $159,961 / 16,838 lin ft = $9.50 /lin ft <br /> Zone 2 — Building Area Rate (Unit A -2) <br /> $94,035 / 1,258,786 sq ft = $0.074703/sq ft <br /> Zone 2 — Land Area Rate (Unit B -2) <br /> $100,254 / 2,626,517 sq ft = $0.038170/sq ft <br /> Zone 2 — Street Frontage Rate (Unit C -2) <br /> $263,082 / 27,693 lin ft = $9.50 /lin ft <br /> 24 <br />