Res97 13107 - Laserfiche WebLink

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"Lido Neighborhood Final Maps" shall mean the Final Map for Lido Neighborhood Unit 1 recorded on June 27, 1996, the Final Map for Lido Neighborhood Unit 2 recorded on October 3, 1996, the Final Map for Lido Neighborhood Unit 3 recorded on March 11, 1997, and the Final Map for Lido Neighborhood Unit 4 recorded on March 11, 1997. "Maximum Annual Maintenance Cost" shall mean the maximum Annual Maintenance Cost that may be spread among Parcels within the District pursuant to this Method of Spread, or such lesser amount budgeted by the City to pay for Annual Maintenance Costs. For Fiscal Year 1997/98 the Maximum Annual Maintenance Cost that may be spread among Parcels within the District shall be set at $155,454. Such amount shall increase at the greater of a compound rate of two percent annually or at the compound rate of increase in compensation for the position of Landscape Gardener as that position is classified and described in the City of Redwood City's competitive service or merit personnel system, but in no event may the rate of increase exceed 3.5 percent in any Fiscal Year. "Maximum Unit Yield" shall mean the maximum number of residential units assigned to each residential subdivision in the District as further described in Section 3 of this Method of Spread. "Method of Assessment Spread" shall mean the method of spreading assessments as described herein, approved by Resolution No. __, a resolution entitled "Resolution of Intention to Order the Levy of Benefit Assessments for Fiscal Year 1997-98 and Thereafter Using the Alternative Method, Approving City Manager's and Engineer's Reports, Modifying Formula for Annual Assessments, Ratifying Formation of District, Calling Property Owners' Election on Said Assessments, and Providing for Notice of Election and Hearing Thereon - Redwood Shores Landscape Maintenance District No. 1995-1." "Parcel" shall mean any parcel subject to the levy of assessments pursuant to this Method of Spread. "Residential Parcel" shall mean any parcel zoned or otherwise approved by the City for residential development. Section 2 - Rational Supporting Allocation of Costs Costs are allocated among the City, Commercial Parcels and Residential Parcels based on the estimated general or special benefits enjoyed by each type of land use. All general benefits are allocated to the City. Commercial use is limited to two parcels totaling approximately 6 acres, public areas requiring maintenance comprise approximately 28 acres, and residential developments