Agmt20 Redwood City Improvement Association-CBID Operating Agreement

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This Management and Disbursement Agreement ("Agreement") between the City of Redwood City, a California charter city and municipal corporation, (the "City") and the Redwood City Improvement Association, a California Non -Profit Public Benefit Corporation, (the "RCIA") is entered into this of July 28 , 2020 ("Effective Date"). City and RCIA shall respectively be referred to as the "Party" or collectively as the "Parties." RECITALS WHEREAS, on August 25, 2014, the City Council adopted Ordinance No. 2408, approving the creation of the Downtown Redwood City Community Benefit Improvement District of 2014 ("District") pursuant to the Redwood City Community Benefit Improvement District Procedural Ordinance (Redwood City Municipal Code Chapter 31); and WHEREAS, the Management District Plan for the District ("District Plan"), attached hereto as Exhibit A and by this reference incorporated herein and made an operative part of this Agreement, and the assessment engineer's report prepared in connection with the District (the "Engineer's Report"), describe and set forth the sidewalk operations and beautification, District identity and signage, and parking management service and improvements to be provided to properties within the District, the administration of such services and improvements, and related reserves (the "District Plan Services"); and WHEREAS, the City, through an assessment ballot protest proceeding held on July 28, 2014, received more than 50% of weighted ballots in support of the proposed levy of the assessments to fund the District Plan Services and the administration thereof pursuant to the District Plan; and WHEREAS, the District Plan Services will be funded through an annual levy of assessments upon the lots and parcels of real property within the boundaries of the District (the "Assessments"), commencing December 2014, and continuing for fifteen (15) consecutive years through December 31, 2029; and WHEREAS, on January 12, 2015, the City entered into an agreement with RCIA to act as the owners association for the District and to administer and implement the District Plan Services specified in the District Plan, and that agreement expired on December 31, 2019. WHEREAS, the Parties now wish to enter into a new agreement for RCIA to act as the owners association for the District and to administer and implement the District Plan Services specified in the District Plan, on these updated terms. NOW THEREFORE, the Parties to this Agreement do hereby covenant and agree as follows: 1. Scope of Duties. RCIA agrees to promptly perform all duties specified in this Agreement and provide the District Plan Services as specified in the District Plan and the annually approved District budget. RCIA and the City shall each respectively designate an individual or individuals who shall be responsible for communications with each other for the duration of this Agreement. Nothing in this Agreement shall be construed to require RCIA to provide District Plan Services ATTY/AGR/2020.108/RWC CBID OPERATING AGREEMENT REV: 06-25-2020 MI Page 2 of 18