AgdaPkt 2014-08-25 Closed and Joint with SA and Planning Amended

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7.4.A. - Page 1 S REPORT To the Honorable Mayor and City Council From the City Manager August 25, 2014 SUBJECT Second Reading of the Ordinance of the City of Redwood City Forming the Downtown Redwood City Community Benefit Improvement District and Levying the Assessment RECOMMENDATION Waive second Reading and adopt the Ordinance of the City of Redwood City Forming the Downtown Redwood City Community Benefit Improvement District and Levying the Assessment. BACKGROUND During its July 28, 2014 meeting, the City Council introduced an ordinance forming the Downtown Redwood City Community Benefit Improvement District and Levying the Assessment. The ordinance is presented at this meeting for second reading and adoption. ANALYSIS The proposed Council action serves to allow the formation of the Downtown Redwood City Community Benefit Improvement District ("CBID") and the levying of the assessment on the benefitting parcels. Upon passage and adoption, the Ordinance will go into effect in 30 days. ALTERNATIVES Council may choose not to adopt the Ordinance and not allow the CBID to be formed. FISCAL IMPACT Upon formation of the CBID, the annual General Fund obligation will be $62,251, which may be increased by up to 5% annually. ENVIRONMENTAL REVIEW This action is not a "project" within the meaning of the California Environmental Quality Act because the activity involves the creation of a government funding mechanism which does not create a commitment to a specific project which may result in a direct physical change in the environment nor a reasonably foreseeable indirect physical change in the environment. (Public Resource Code § 21065; Guidelines § 15378) Even if this funding mechanism were a "project", the activities contemplated pursuant to the CBID would be considered categorically exempt pursuant to Section 15301, Class 1