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� . _ �_ __ ._ _. � . _ _ _ . � <br /> O6/09/2014 <br /> Total Year 1—2015-Special +General Benefit Revenue <br /> Non- <br /> Assessment Assessment Tota) 95 of <br /> Service Aliocation Allocation Allocation Total <br /> Sidewalk Operations $ 423,000 $ 13,082 $ 436,082 53%a <br /> District Identity $ 160,000 $4,949 $164,949 20% <br /> Parking Management $ 54,000 $1,670 $ 55,670 7% <br /> Administration $ 120,000 $3,711 $ 123,711 15% <br /> Contingency/Reserves $ 38,781 $ 1,200 $ 39,981 5% <br /> Taial $795,781.00 $24,612.00 $820,393.00 100% <br /> All program costs associated with general benefits will be derived from sources or credits other <br /> than CBID assessments. Sample "other" revenue sources can be derived from special events, <br /> grants, volunteer hours and must simply equal a total of$ 24,612 per year which would equal <br /> the general benefit cost of 3% of the computed total CBID cost of $ 820,393.00 from Table 3 <br /> above. <br /> Time and Manner for Collecting Assessments: <br /> As provided by the City Ordinance, the District assessments will appear as a separate line item <br /> on annual property tax bills prepared by the County of San Mateo. <br /> Cap: <br /> The Downtown Redwood City CBID budget and assessments may be subject to increases which <br /> may be determined by the Owners' Association/District Management Corporation and will vary <br /> between 0% and 5% annually. The CBID District Management Corporation may request the <br /> increase in assessments annually, not to exceed 5%a from the previous year's assessment <br /> amounts. <br /> Changes in land use, development of empty parcels, conversion of tax exempt to profitable land <br /> uses, demolition of existing buildings, and creation of new parcels through new building or <br /> residential condo development may alter the budget from year to year based upon the changes <br /> in the building square footage of an individual parcels. Since linear frontage and lot size <br /> normally are not altered in the development of a site, the only changes realized in the CBID will <br /> be through the building square footage. In addition, changes in the budget may occur due to <br /> the conversion of single parcels to multiple parcels due to the construction of residential or <br /> commercial condominiums. <br /> RESO.#15347 <br /> MUFF#506 <br />