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Page 2 of 3 <br />This resolution before the Council will provide notice of the property owners’ <br />assessment ballot proceeding to approve the annual budget, the maximum annual <br />assessment, and set a public hearing scheduled for July 27, 2015. If, at the conclusion <br />of the public hearing, ballots submitted in opposition to the maximum assessment levy <br />exceed the ballots submitted in favor of the maximum assessment levy, the Council <br />may not impose an assessment. Ballots are weighted by financial responsibility. <br />Property owners voted unanimously in favor of the levy during the election in 2005 and <br />a majority voted in favor in 2010. <br /> <br />ANALYSIS <br />The District is being assessed to allow assessments to be levied and collected on <br />secured property rolls within the District by the San Mateo County Tax Controller and <br />Collector’s Office. The District’s annual operation, maintenance, and improvement <br />needs were assessed by the City’s Community Development Department, Engineering <br />Division. Based on the analysis the existing levy of assessment is sufficient to cover <br />expenditures, barring any unexpected emergencies. Therefore, there is no increase for <br />the proposed annual assessment as compared to the annual assessments that were <br />approved with the prior District assessment and budget cycle in 2010. <br /> <br />Related budgets, assessments, and City Manager’s and Engineer’s Report are <br />available for review in the City Clerk’s Office. <br /> <br />ALTERNATIVES <br />Council may choose not to adopt the Resolution of Intention, thereby forgoing the levy <br />of benefit assessment. <br /> <br />FISCAL IMPACT <br />The District’s funds are kept separate from the City general funds. Therefore, no fiscal <br />impact is anticipated to the City’s general funds. <br />The District’s proposed annual operating budget is $212,500, and the proposed annual <br />assessment is $212,500. In addition, the District will have approximately $533,000 in <br />Capital Reserve at the end of this fiscal year. Reserve funds will be utilized when major <br />unforeseen or emergency repairs are needed. <br /> <br />ENVIRONMENTAL REVIEW <br />The City of Redwood City has determined that this report does not propose any <br />action(s) at this time that constitute a project as defined by the California Environmental <br />Quality Act (CEQA), because there will be no direct or indirect change in the <br />environment per Section 21065 of the California Public Resources Code. <br />7.2.F. - Page 2