Agmt20 Redwood City Improvement Association-CBID Operating Agreement

Browse Search

Additionally, the Economic Development Sub -Committee of the City Council discussed this issue on the following dates: October 215; 2013, January 27th, 2014 February 25th, 2014 April 17th, 2014 May 29th, 2014 Boundaries: (Please CBID see map in Section 2) In general, the boundaries of the proposed Downtown Redwood City CBID are as follows: On the north, from the intersection of Maple and Veterans (south side) to the intersection of Brewster Street and Veterans (south side); On the south, from the intersection of Main and Pennsylvania (north side) to the intersection of EI Camino and Brewster Street (north side); On the east, from the intersection of Pennsylvania and Maple, (west side) to the intersection of Veterans and Maple, (west side); On the west, from the intersection of EI Camino and Brewster (east side) to the intersection of Veterans and Brewster (east side). Please see Section 2 for a full map and full description of the boundaries. Budget: The total first year Downtown Redwood City Community Benefit Improvement District budget will be $ 795,781.00. Please see Section 3 for a breakdown of the categories of special benefit services and their allocation of services by Benefit Zone. Benefit Zone 1 parcels will generate 43% of the overall annual first year budget, Benefit Zone 2 parcels will generate 57% of the annual first year budget. First Year Downtown Redwood City Community Benefit Improvement District Service Budget (Figures are rounded) PROGRAM OR ACTIVITY FUNDED BY THE DOWNTOWN REDWOOD CITY COMMUNITY BENEFIT IMPROVEMENT DISTRICT APPROXIMATE% OF FIRST YEAR ANNUAL BUDGET ESTIMATED ANNUAL COSTS Sidewalk Operations and Beautification 53% $ 423,000.00 District Identity and Signage 20% $ 160,000.00 Parking Management 7% $54,000.00 Administration/Corporate Operations 15% $ 120,000.00 Contingency/City and County Fees/Reserves 5% $ 38,781.00 TOTAL 100% $ 795, 781.00