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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 an annual budget, approve a maximum <br />annual assessment and set a public hearing scheduled for July 27, 2015. If at the <br />conclusion of the public hearing, ballots submitted in opposition to the maximum <br />assessment levy exceed the ballots submitted in favor of the maximum assessment <br />levy, the Council may not impose an assessment. Ballots are weighted by financial <br />responsibility. The property owners voted unanimously in favor of the levy during the <br />prior elections in 2005 and 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 proposed <br />increase for the 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’s general funds. Therefore, no fiscal <br />impact is anticipated to the City’s general funds. <br />The District’s proposed operating budget is $187,000 and the proposed annual <br />assessment is $187,000. In addition, the District is expected to have approximately <br />$1,656,000 in Capital Reserve. The amount in Capital Reserve is in proportion to the <br />asset value of the major facilities, such as the one storm and two sanitary sewer pump <br />stations, maintained by the District. 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 />7.2.G. - Page 2