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The proposed annual assessment for FY 2017-18 in the amount of $212,500 would not <br />be a change from FY 2015-16 or FY 2016-17. There is no change in the formula and <br />distribution of benefit assessments among each individual parcel in the District from <br />what was shown in the confirmed Reports. As shown in the Reports, the annual <br />maintenance budget is in balance, with expected expenditures of the District not <br />exceeding assessments. A draft resolution authorizing the levying and collection of <br />assessments is attached along with a map of the District. A copy of the Reports, which <br />includes the annual budget and assessments, are available for review in the City Clerk’s <br />Office. <br /> <br />ALTERNATIVES <br />The Council may choose to not levy assessments. If benefit assessments are not levied <br />against the properties within the District, then the District may have to reduce <br />maintenance and operation of the storm water retention system and landscaping along <br />Seaport Boulevard. <br /> <br />FISCAL IMPACT <br />The District’s finances are separate from the City’s General Fund. Expenditures are <br />budgeted within the Seaport Landscaping Maintenance District Fund. As shown in the <br />Reports for the District, the annual maintenance budget is in balance, with expected <br />expenditures not exceeding assessments. The proposed budget for the fiscal year is <br />$212,500. <br /> <br /> <br />ENVIRONMENTAL REVIEW <br />The City of Redwood City has determined that this action is categorically exempt from <br />the California Environmental Quality Act (CEQA) under California Code of Regulations, <br />Title 14, Section 15301 because the assessments, if approved, will fund the repair <br />and maintenance of existing facilities. <br /> <br /> <br />AARON AKNIN <br />ASSISTANT CITY MANAGER <br /> <br /> <br /> <br />MELISSA STEVENSON DIAZ <br />CITY MANAGER <br />6.3.E. - Page 2