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6.C. - Page 1 of 124 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />A,&/ <br />DATE: July 13, 2020 <br />SUBJECT <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />Accept annual reports from the Redwood City Improvement Association and approve Management and <br />Disbursement Agreement with the Redwood City Improvement Association <br />RECOMMENDATION <br />1. Adopt a resolution (a) accepting the annual reports and financial statements for Fiscal Years 2017- <br />2018 and 2018-2019 from the Redwood City Improvement Association, and (b) authorizing the <br />Redwood City Improvement Association to implement the services identified in the Management <br />District Plan; and <br />2. By motion, approve and authorize the City Manager to execute the Management and Disbursement <br />Agreement with the Redwood City Improvement Association providing management services for <br />administration of the Downtown Redwood City Community Benefit Improvement District from July <br />13, 2020 to December 31, 2023, including City Manager authority to extend the agreement for one <br />additional five-year period. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Economic Vitality <br />BACKGROUND <br />In 2014, downtown Redwood City property owners voted to approve the creation of a Community Benefit <br />Improvement District (CBID). The property owners created this association to fund special benefits <br />beyond normal City services that support downtown Redwood City as the premier entertainment and <br />dining destination on the Peninsula. In 2015, the City entered into a Management and Disbursement <br />Agreement with the Redwood City Improvement Association (RCIA) to act as the owners' association for <br />the CBID and manage and administer the CBID. <br />Page 1 of 4 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />207 <br />