AgdaPkt 2020-10-26 Joint SA PFA - Laserfiche WebLink

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7.A. - Page 35 of 176 The City Manager shall confirm that there are no changes to the classification of the Taxable Parcels as identified on Exhibit 1 hereto. Parcels shall be classified as of their status applicable in the next Fiscal Year on each Classification Date. The City Manager shall use the County's assessment roll, land use codes and plot map books maintained by the Assessor, in combination with official records maintained by the City regarding the prepayment of the Facilities Special Taxes, recorded final maps, building permits issued, and other changes in parcel status, as the basis for confirming and/or reclassifying the Parcels in the CFD. Facilities Special Tax: With respect to the Facilities Special Taxes, Taxable Parcels shall be classified as either Fully Taxable Parcels or Partially Taxable Parcels. Each Taxable Parcel is a Fully Taxable Parcel and may not be removed from such classification unless the Facilities Special Tax allocable to such Parcel has been prepaid in full pursuant to Section 7 hereof, in which case such Parcel shall be reclassified as a Partially Taxable Parcel. Services Special Taxes: With respect to the Services Special Tax, Taxable Parcels shall be classified as either a Seaport Plaza Taxable Parcel or a Seaport Centre Taxable Parcel. Initial Non -Taxable Parcels and Tax -Exempt Parcels: Initial Non -Taxable Parcels and Tax -Exempt Parcels shall not be subject to the levy of Special Taxes. Impact of Subdivisions: Lot Square Feet allocable to a Taxable Parcel may not be reduced, save the exceptions for reallocation and subdivisions as expressly noted in this Section 2. If a Taxable Parcel is subdivided, the City Manager shall assign Lot Square Feet to the successor Parcels, provided that the total number of Lot Square Feet assigned to such successor Parcels may not be less than the Lot Square Feet assigned to the predecessor Parcel. SECTION 3 TERMINATION OF THE SPECIAL TAXES Special Taxes shall remain in effect until such time as the City Council directs the City Clerk to record a suitable notice to indicate the release of the Special Tax in compliance with the Act or applicable law. SECTION 4 DETERMINATION OF SPECIAL TAX RATES Facilities Special Tax Rates: ATTY/RESO.0121/CC RESO REDWOOD CITY ROI ESTABLISH REV: 10-21-2020 MI Page 17 of 26 217