Agmt20 Redwood City Improvement Association-CBID Operating Agreement

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land. Therefore, churches, City, County and School District owned properties and Kaiser Hospital will not pay for building square footage costs since they will not derive benefit from these services funded by the building square footage assessments. Future Development: As a result of continued new development, the CBID will experience the addition or subtraction of assessable commercial buildings or the conversion of empty parcels into new commercial and residential or buildings and units. The Management District Plan assessment methodology will accommodate any and all changes anticipated within the term of the CBID with annual adjustments being submitted to the City, as these assessment formula and property variable alterations occur. In future years, the assessments for the special benefits bestowed upon the benefitting CBID parcels may change in accordance with the assessment methodology formula listed in this plan and the Engineer's Report provided the assessment rate does not change. If the assessment formula if proposed to be increased, then a Proposition 218 mail ballot procedure will be required for approval of increasing the formula changes. Budget Adjustments Annual budget surpluses, if any, will be rolled into the following year's budget. Benefit Analysis, Special vs. General Benefits: As stipulated by Proposition 218, assessment District programs and activities confer a combination of general and special benefits to properties, but the only program benefits that can be assessed are those that provide special benefit to the assessed properties. For the purposes of this analysis, a "general benefit" is hereby defined as: "A benefit to properties in the area and in the surrounding community or benefit to the public in general resulting from the improvement, activity, or service to be provided by the assessment levied". "Special benefit" as defined by the California State Constitution means a distinct benefit over and above general benefits conferred on real property located in the District or to the public at large. Services, programs and improvements provided by the CBID are primarily designed to provide special benefits to identified commercial parcels and live -work condominium parcels within the District boundaries. Existing City of Redwood City general benefit services will remain and not replaced or duplicated, by CBID services. In the case of the Downtown Redwood City CBID, the very nature of the purpose of this District is to fund supplemental programs, improvements and services within the CBID boundaries above and beyond what is being currently funded either via normal tax supported methods or other funding sources. These services, programs and improvements, are designed to enhance the commercial core uses, including residential condos and work/live lofts, increase tenancy and marketing of the properties in the CBID and improve the aesthetic appearance of areas adjacent to each identified parcel. All benefits derived from the assessments to be levied on parcels within the 29