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7.3.B. - Page 25
<br /> Table 3 — B
<br /> Fifteen -Year Projection of Maximum Assessment for the
<br /> Downtown Redwood City CBID
<br /> Projected Bud FY 1 FY 2 FY 3 FY 4 FY 5
<br /> Sidewalk Operations $423,000.00 $444,150.00 $466,357.50 $489,675.38 $514,159.14
<br /> District Identity $160,000.00 $168,000.00 $176,400.00 $185,220.00 $194,481.00
<br /> Parking Management $54,000.00 $56,700.00 $59,535.00 $62,511.75 $65,637.34
<br /> Administration $120,000.00 $126,000.00 $132,300.00 $138,915.00 $145,860.75
<br /> Contingency $30,747.00 $32,284.35 $33,898.57 $35,593.50 $37,373.17
<br /> Total $787,747.00 $827,134.35 $868,491.07 $911,915.62 $957,511.40
<br /> Projected Budget FY 6 FY 7 FY 8 FY9 FY 10
<br /> Sidewalk Operations $539,867.10 $566,860.46 $595,203.48 $624,963.65 $656,211.84
<br /> District Identity $204,205.05 $214,415.30 $225,136.07 $236,392.87 $248,212.51
<br /> Parking Management $68,919.20 $72,365.16 $75,983.42 $79,782.59 $83,771.72
<br /> Administration $153,153.79 $160,811.48 $168,852.05 $177,294.65 $186,159.39
<br /> Contingency $39,241.83 $41,203.92 $43,264.12 $45,427.32 $47,698.69
<br /> Total $1,005,386.97 $1,055,656.32 $1,108,439.14 $1,163,861.09 $1,222,054.15
<br /> Projected Budget FY 11 FY 12 FY 13 FY 14 FY 15
<br /> Sidewalk Operations $689,022.43 $723,473.55 $759,647.23 $797,629.59 $837,511.07
<br /> District Identity $260,623.14 $273,654.30 $287,337.01 $301,703.86 $316,789.06
<br /> Program Management $87,960.31 $92,358.33 $96,976.24 $101,825.05 $106,916.31
<br /> Administration $195,467.36 $205,240.72 $215,502.76 $226,277.90 $237,591.79
<br /> Contingency $50,083.62 $52,587.80 $55,217.19 $57,978.05 $60,876.96
<br /> Total $1,283,156.86 $1,347,314.70 $1,414,680.43 $1,485,414.45 $1,559,685.18
<br /> Notes:
<br /> • Assumes a 5% yearly increase on all budget items.
<br /> • Any accrued interest or delinquent payments will be expended in the above categories.
<br /> Benefit Zones:
<br /> Article XIII (d) of the state constitution and the state law provide for the definition of zones
<br /> within the proposed special benefits district that ensures that property owners that receive
<br /> greater benefit, pay their proportional share of assessments. Proposition 218 states:
<br /> "The proportionate special benefit derived by each identified parcel shall be
<br /> determined in relationship to the entirety of the capital cost of a public improvement,
<br /> the maintenance and operation expenses of a public improvement, or the cost of the
<br /> property related service being provided. No assessment shall be imposed on any
<br /> parcel which exceeds the reasonable cost of the proportional special benefit conferred
<br /> on that parcel."
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