|
Table 3 — B
<br />Fifteen -Year Projection of Maximum Assessment for the
<br />Downtown Redwood City CBID
<br />Projected Budget
<br />FY 1
<br />FY 2
<br />FY 3
<br />FY 4
<br />FY 5
<br />Sidewalk Operations
<br />$423,000.00
<br />$444,150.00
<br />$466,357.50
<br />$489,675.38
<br />$514,159.14
<br />District Identity
<br />$160,000.00
<br />$168,000.00
<br />$176,400.00
<br />$185,220.00
<br />$194,481.00
<br />Parking Management
<br />$54,000.00
<br />$56,700.00
<br />$59,535.00
<br />$62,511.75
<br />$65,637.34
<br />Administration
<br />$120,000.00
<br />$126,000.00
<br />$132,300.00
<br />$138,915.00
<br />$145,860.75
<br />Contingency
<br />$38,781.00
<br />$40,720.05
<br />$42,756.05
<br />$44,893.86
<br />$47,138.55
<br />Total
<br />$795,781.00
<br />$835,570.05
<br />$877,348.55
<br />$921,215.98
<br />$967,276.78
<br />Projected Budget
<br />FY 6
<br />FY 7
<br />FY 8
<br />FY9
<br />FY 10
<br />Sidewalk Operations
<br />$539,867.10
<br />$566,860.46
<br />$595,203.48
<br />$624,963.65
<br />$656,211.84
<br />District Identity
<br />$204,205.05
<br />$214,415.30
<br />$225,136.07
<br />$236,392.87
<br />$248,212.51
<br />Parking Management
<br />$68,919.20
<br />$72,365.16
<br />$75,983.42
<br />$79,782.59
<br />$83,771.72
<br />Administration
<br />$153,153.79
<br />$160,811.48
<br />$168,852.05
<br />$177,294.65
<br />$186,159.39
<br />Contingency
<br />$49,495.48
<br />$51,970.25
<br />$54,568.76
<br />$57,297.20
<br />$60,162.06
<br />Total
<br />$1,015,640.62
<br />$1,066,422.65
<br />$1,119,743.78
<br />$1,175,730.97
<br />$1,234,517.52
<br />Projected Budget
<br />FY 11
<br />FY 12
<br />FY 13
<br />FY 14
<br />FY 15
<br />Sidewalk Operations
<br />$689,022.43
<br />$723,473.55
<br />$759,647.23
<br />$797,629.59
<br />$837,511.07
<br />District Identity
<br />$260,623.14
<br />$273,654.30
<br />$287,337.01
<br />$301,703.86
<br />$316,789.06
<br />Program Management
<br />$87,960.31
<br />$92,358.33
<br />$96,976.24
<br />$101,825.05
<br />$106,916.31
<br />Administration
<br />$195,467.36
<br />$205,240.72
<br />$215,502.76
<br />$226,277.90
<br />$237,591.79
<br />Contingency
<br />$63,170.16
<br />$66,328.67
<br />$69,645.10
<br />$73,127.36
<br />$76,783.73
<br />Total
<br />$1,296,243.39
<br />$1,361,055.56
<br />$1,429,108.34
<br />$1,500,563.76
<br />$1,575,591.95
<br />Notes:
<br />• Assumes a 5% yearly increase on all budget items.
<br />• Any accrued interest or delinquent payments will be expended in the above categories.
<br />Benefit Zones:
<br />Article XIII (d) of the state constitution and the state law provide for the definition of zones
<br />within the proposed special benefits district that ensures that property owners that receive
<br />greater benefit, pay their proportional share of assessments. Proposition 218 states:
<br />"The proportionate special benefit derived by each identified parcel shall be
<br />determined in relationship to the entirety of the capital cost of a public improvement,
<br />the maintenance and operation expenses of a public improvement, or the cost of the
<br />property related service being provided. No assessment shall be imposed on any
<br />parcel which exceeds the reasonable cost of the proportional special benefit conferred
<br />on that parcel."
<br />
|