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__ _ �.�.,��.�.�. _ i � <br /> 06/09l2014 <br /> Year 1 -2014/15 Proaosed Special Benetit Work Plan and Budeet Allocations <br /> PROGRAM OR ACTIVITY FUNDED BY THE APPROXIMATE%OF ESTIMATED ANNUAL <br /> DOWNTOWN REDWOOD CITY FIRST YEAR ANNUAL COSTS <br /> COMMUNITY BENEFIT IMPROVEMENT DISTRICT BUDGET <br /> Sidewalk Operations,Beautification 53% $423,000.00 <br /> District Identity and Signage 20% $ 160,000.00 <br /> Parking ManagementBenefit Zone 1 5% $54,000.00 <br /> Administration/Corporate Operations 15% $ 120,000.00 <br /> Contingency/City and County Fees/Reserves 5% $38,781.00 <br /> TOTAL 100% $ 795,781.00 <br /> It is recognized that market conditions may cause the cost of providing goods and services to fluctuate from year to year. <br /> Accordingly, the Owners' Association shall have the right to reallocate up to 10% of the budget line item within the <br /> budget categories based on such cost fluctuations subject to the review and approval by the Board and included in the <br /> Annual Planning Report that will be approved by the Redwood City - City Council pursuant to Streets and Highways <br /> Code Section 36650. Accrued interest or delinquent payments may be expended in any budget category. <br /> Any funds remaining after the fifteenth year of operation will be rolled over into the renewal budget or returned to <br /> stakeholders. Also, if the funds are available in the fourteenth year of operations, costs for renewal may be expended. If <br /> the District is not renewed or terminated for any reason, unexpended funds will be returned to the property owners <br /> pursuant to Section 36600 of the California Streets and Highway Code. <br /> The proposed CBID special benefit services are described in more detail as follows: <br /> SIDEWALK�PERATIONS AND BEAUTIFICATION, 53%*(see parking management,points 3 and 4) <br /> This category of special benefit services provides assessed properties with the following services allocated predominantly <br /> from curb to property line. These services are funded from the property variable, - linear frontage-that will derive the <br /> majority of special benefit services from this function. In allocating these services, the CBID plan seeks to ensure <br /> proportional benefit to the benefitting parcel. Parcels with greater linear frontage will receive and pay for greater <br /> Sidewalk Operations special benefit services. Therefore is a direct relationship between what is paid and what is received <br /> by each CBID parcel. All parcels in the CBID are assessed equally and will receive the same frequency of this <br /> classification of special benefit services. The purpose of these services is to provide cleaner,more orderly,and attractive <br /> public rights of way adjacent to each assessed parcel within the CBID area. These services are over and above current <br /> RESO.#15347 <br /> MUFF#506 <br />