RecDoc 2014-087139 - Laserfiche WebLink

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08/25/2014 Section 4. The authorized activities of the CBID are briefly described as follows: Sidewalk Operations and Beautification (such as sidewalk cleaning and landscaping maintenance), District Identity and Signage (such as marketing and promotional activities), Parking Management, Administration/ Corporate Operations, and Contingency/City and County Fees and Reserves. Section 5. The activities of the CBID will be funded through an annual benefit assessment against lots and parcels of real property within the boundaries of the CBID. The amount of the assessment is $795,781.00 for Fiscal Year 2014-15. The revenue from the levy of assessments within the CBID will not be used to provide improvements or activities outside the CBID or for any purpose other than the purposes specified in the Resolution of Intention. Section 6. The initial duration of the CBID is 15 years. Section 7. No bonds will be issued in connection with the CBID. Section 8. For a complete description of the CBID, and its boundaries and activities, as well as a complete description of the assessment authorized in connection with the CBID, reference is made to the Management District Plan entitled the "Downtown Redwood City Community Benefit Improvement District Management District Plan" dated June 2, 2014, and to the Engineer's Report entitled the "Downtown Redwood City Community Benefit Improvement District Assessment Engineers Report" dated June 2, 2014, each of which is on file in the Office of the City Clerk, available for public inspection, and incorporated herein by reference. The Management District Plan and the Engineer's Report are hereby finally approved. Properties in the CBID shall be subject to any amendments to the Law. Section 9. The adoption of this Ordinance constitutes the levy of the assessment in each of the fiscal years referred to in the management district plan; however, each year's levy shall be conditioned on the approval, by resolution or ordinance, of a report pursuant to Section 36650 of the Law. The approval of such a report is at the discretion of the Council. ATTY/ORD.404/CBID FORMATION ORD ORD.#2408 REV:07-16-14 PT MUFF#506 Page 3 of 4