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08/25/2014 <br /> Section 4. The authorized activities of the CBID are briefly described as follows: <br /> Sidewalk Operations and Beautification (such as sidewalk cleaning and landscaping <br /> maintenance), District Identity and Signage (such as marketing and promotional <br /> activities), Parking Management, Administration/ Corporate Operations, and <br /> Contingency/City and County Fees and Reserves. <br /> Section 5. The activities of the CBID will be funded through an annual benefit <br /> assessment against lots and parcels of real property within the boundaries of the CBID. <br /> The amount of the assessment is $795,781.00 for Fiscal Year 2014-15. The revenue <br /> from the levy of assessments within the CBID will not be used to provide improvements <br /> or activities outside the CBID or for any purpose other than the purposes specified in <br /> the Resolution of Intention. <br /> Section 6. The initial duration of the CBID is 15 years. <br /> Section 7. No bonds will be issued in connection with the CBID. <br /> Section 8. For a complete description of the CBID, and its boundaries and <br /> activities, as well as a complete description of the assessment authorized in connection <br /> with the CBID, reference is made to the Management District Plan entitled the <br /> "Downtown Redwood City Community Benefit Improvement District Management <br /> District Plan" dated June 2, 2014, and to the Engineer's Report entitled the "Downtown <br /> Redwood City Community Benefit Improvement District Assessment Engineers Report" <br /> dated June 2, 2014, each of which is on file in the Office of the City Clerk, available for <br /> public inspection, and incorporated herein by reference. The Management District Plan <br /> and the Engineer's Report are hereby finally approved. Properties in the CBID shall be <br /> subject to any amendments to the Law. <br /> Section 9. The adoption of this Ordinance constitutes the levy of the <br /> assessment in each of the fiscal years referred to in the management district plan; <br /> however, each year's levy shall be conditioned on the approval, by resolution or <br /> ordinance, of a report pursuant to Section 36650 of the Law. The approval of such a <br /> report is at the discretion of the Council. <br /> ATTY/ORD.404/CBID FORMATION ORD ORD.#2408 <br /> REV:07-16-14 PT MUFF#506 <br /> Page 3 of 4 <br />