AgdaPkt 2015-07-27 Joint SA and PFA

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7.3.B. - Page 7 9 . REDWOOD CITY IMPROVEMENT ASSOCIATION May 13, 2015 Mr. Sean Brooks Economic Development Director City of Redwood City Sent via e-mail: Adjustment and Deletion of Specific Parcels from the Redwood City Community Benefit Improvement District, 1090 Main Street Dear Mr. Brooks: As you recall, in creating the database for the Downtown Redwood CBID, adopted by a weighted majority of property owner voting in the assessment ballot proceeding, as well as confirmed by the adoption of the Ordinance of Formation in July 2014, we have discovered that a certain group of residential condo owners residing above the first floor of 1090 Main Street were mistakenly omitted from the database. Since only the first floor condominium owners were notified of the assessment ballot proceeding in June 2014, the upper floor condo owners were not notified and therefore did not have the opportunity to vote in the establishment of the district as per the guidelines outlined in the Proposition 218 Omnibus Bill. The Executive Committee of the Redwood City Improvement Association, the corporation who has the contract to administer the district, has met and is recommending that the following parcels be deleted from the assessment district and database for Fiscal year 15 -16: 111 810 010 —1090 Main Street, #101 111 810 020 —1090 Main Street, #102 111 810 030 —1090 Main Street, #103 111 810 040 —1090 Main Street, #104 111 810 050 —1090 Main Street, #105 111 810 060 —1090 Main Street, #106 111 810 070 —1090 Main Street, #107 We will be processing refunds for all of these parcels that paid their assessments for FY 2014 -15 as well and wish to exclude these parcels on a go forward basis. The total reduction in assessments arising from the exclusion will be $1,191.40. This loss will be more than offset by the addition of new building square footage that will be added to the database in anticipation of new assessments for FY16.