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7.3.B. - Page 2 <br /> that contains existing for sale residential condominium units. The building is on the <br /> edge of the District and can be easily excluded from services. <br /> In order to remove parcels, the following should occur: <br /> (i) RCIA requests the change in writing — (See Exhibit 2: RCIA Deletion of <br /> Parcels request letter) <br /> (ii) The City Council adopts a resolution of intention to remove parcels (See <br /> Exhibit 1: Resolution of Intention to Remove Parcels from District) <br /> (iii) The City publishes the resolution of intention <br /> (iv) The City mails the resolution of intention to the specific property owners <br /> proposed for removal from the CBID <br /> (v) The City Council holds a public hearing <br /> (vi) The City Council adopts a resolution ordering the removals of the parcel <br /> ALTERNATIVES <br /> The City could choose not to adopt the resolution of intention and not exclude the <br /> subject parcels. <br /> FISCAL IMPACT <br /> If the resolution of intention is approved, the District budget will decrease by $1,191.40, <br /> however, this will be more than offset by the increase captured with new development. <br /> The annual General Fund obligation to the City will remain $62,251 for the parcels that <br /> the City owns within the District. <br /> ENVIRONMENTAL REVIEW <br /> Not applicable. <br /> g e4w, perk, <br /> SEAN BROOKS <br /> ECONOMIC DEVELOPMENT MANAGER <br />