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7.3.B. - Page 29 <br /> The method and basis of spreading program costs varies from one CBID to another based on <br /> local geographic conditions, types of programs and activities proposed, and size and <br /> development complexity of the CBID. For example, CBIDs may require other benefit zones <br /> to be identified to allow for a tiered assessment formula for variable or "stepped- down" <br /> benefits derived. <br /> Here, program costs spreading variables include benefit zones, linear frontage, lot or parcel <br /> size and building square footage, and residential condo parcels. <br /> The following data represents the foundation of the assessments that will generate the <br /> revenue to fund the Downtown Redwood City Community and Benefit Improvement District: <br /> (verified as of May 15 2014); <br /> Database /Property Variable District Totals: (Data verified as of May, 15 , 2014) <br /> Building Square footage: 2,289,554 sq. feet <br /> Lot size square footage: 4,136,522 sq. feet <br /> Linear Frontage: 44,377 linear feet <br /> Residential condos 0 <br /> Assessment District Revenue Generation from each property variable: <br /> Linear Frontage : $ 421,580.00 <br /> Building Square Footage: $ 208,276.00 <br /> Lot Square Footage: $ 157,891.00 <br /> Residential condos 0 <br /> Total: $ 787,747.00 <br /> Costs: <br /> Annual assessments are based upon an allocation of program costs by assessable linear <br /> frontage; PLUS lot or parcel square footage; PLUS assessable building square footage, and in <br /> the case of residential condos, only by actual building square footage of the residential condo. <br /> The residential condo owners are assessed differently since they are, in essence, acquiring air <br /> rights with the condos and linear frontage and lot size is not relevant to their parcels. This <br /> alternate assessment methodology is created to respond to their special needs of homeowners <br /> within this potentially ascending sector within the Downtown Redwood City district. All four <br /> property variables, including an individual parcel's location within the designated areas for <br /> Benefit Zone will be used in the calculation of the annual assessment. The FY 2015 year <br /> annual assessments per property variable and Benefit Zone are as follows: <br /> 21 <br />