Laserfiche WebLink
_� _... i _. � �_ u ____� <br /> O6/09/2014 <br /> to mitigation of parking from new construction projects that will be occurring predominantly in <br /> the Zone 2 area for at least the next 5 years. Therefore,there will be two distinct level of Zone <br /> parking management services based upon the special benefit needs of Zone 1,Zone 2 or their <br /> common need for overall parking management services throughout the CBID. Examples of <br /> these special benefit services and costs include, but are not limited to: <br /> ■ District parking valet program (Funded by Benefit Zone 1 property owners) <br /> ■ Rental of private parking lots within Benefit Zone 1 (Funded by Benefit Zone 1 property <br /> owners) <br /> ■ Possible shuttle to peripheral parking structures(provided to property owners in both <br /> Benefit Zones and funded by linear frontage in both Benefit Zones); * <br /> ■ Parking management services district wide, including a shuttle, leased parking (provided <br /> to property owners in both Benefit Zones and funded by linear frontage assessments in <br /> both Benefit Zones); * <br /> ADMINISTRATION AND CORPORATE OPERATIONS: 15% <br /> These are overhead expenses to oversee the implementation of programs and activities in the <br /> CBID. <br /> ■ Staff and administrative costs <br /> ■ Directors and Officers insurance, general liability insurance <br /> ■ Office related expenses,equipment, rent <br /> ■ Financial reporting, accounting <br /> ■ Legal work <br /> CONTINGENCY/CITY AND COUNTY FEES�RESERVE: 5% <br /> ■ These are overhead expenses that account for collection costs and non-payment of <br /> assessments in the CBIDDelinquencies <br /> ■ City and County collection fees <br /> ■ Reserves <br /> ■ Special projects <br /> Fifteen-Year Operatin�Bud�et: <br /> A projected fifteen year operating budget for the Downtown Redwood City CBID is provided. <br /> The projections are based upon the following assumptions: <br /> • Increases will be determined by the District Management Corporation and in no case <br /> shall annual increases exceed 5%per year. <br /> The budget for specific programs may be reallocated within the categories by up to 10%of each <br /> budget category. The District Management Corporation Board may alter the budget based <br /> upon service needs and such changes shall be included in the Annual report and submitted to <br /> the City Council. <br /> RESO.#15347 <br /> MUFF#506 <br />