Agmt20 Redwood City Improvement Association-CBID Operating Agreement

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This plan proposes that there will be two Benefit Zones for the Downtown CBID. It was determined by CBID Steering Committee in formulating the services plan for this CBID that the properties in the area described as Benefit Zone 1 below required additional parking management as well as parking lot leasing and valet services for customers and clientele transacting business in Zone 1 which will not be provided to Zone 2 properties. The parcels within each benefit zone were set by the Downtown CBID Steering Committee, who, based upon their knowledge of the critical mass of pedestrian traffic concentration, retail concentration and frequency of use by visitors to Downtown, set the boundaries based upon the frequency and type of services that the specific parcels would receive. The Steering Committee determined that all parcels would benefit equally within the CBID boundaries based upon Sidewalk Operations and Beautification services, District Identity, Administration and other overhead expenses in operating the special benefits district. The one service distinction between the two benefit zones was based solely on parking management needs. Whereas Benefit Zone 1 parcels specifically advocated for valet, parking leasing and parking operational services in the evening hours for the retail, restaurant, and entertainment businesses fronting on Broadway in the CBID, Middlefield (west of Broadway), and on Pennsylvania Street between Broadway and Middlefield, the other individual parcels peripheral to these Benefit Zone 1 parcels within the CBID boundaries, would not require the valet and parking lot rental services due to their non -retail and restaurant land uses. Benefit Zone 1 parcels will fund the enhanced parking services through their supplemental assessment assessed to the building square footage costs, which are slightly higher in Zone 1 vs. Zone 2. Zone 2 parcels have qualitatively different parking needs centering NOT on specific evening retail and restaurant needs, but rather needs related to parking and circulation, possible CBID wide shuttle services, and parking mitigation for daytime construction worker use of limited street parking needs. Zone 1 property owners through the Steering Committee direction, specifically understand that Zone 1 parcels would need to pay their proportional share of the parking special benefit needs, funded through the supplemental building square foot assessments. These supplemental building assessments are specifically earmarked for parking benefit services only to Zone 1 parcels. CBID wide special benefit parking needs may be funded from time to time, and based upon Owners Association direction, from the linear frontage assessments which fund Sidewalk Operations and Beautification services. The decision to use linear frontage assessments, which are equally apportioned throughout the CBID, is a decision to be made by the Owners Association in the implementation of the programs and activities of the CBID. Benefit Zone 1 would include: a. All parcels fronting along Broadway from Maple Street on the East to EI Camino on the west, also the site of the new Crossings 900 office building b. Courthouse Square C. Parcels fronting on Theatre Way 19