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

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7.A. - Page 38 of 176 respect to the costs of Services for Wet Utilities ("Annual Service Special Tax Rate for Wet Utilities"). Notwithstanding the foregoing, if the Facilities have yet to be accepted by the City, the Services Special Tax rate for Levees shall be calculated by dividing (A) the result of subtracting the respective amount in Step 8 from the sums of the respective amounts determined in Steps 6 and 7 by (B) the total Lot Square Feet allocable to only Seaport Centre Taxable Parcels with respect to the Existing Levees to determine the Annual Service Special Tax Rate for Levees. The Annual Service Special Tax Rate for Wet Utilities shall be calculated as stated above for such same period of time. Step 10 The Services Special Tax for each Seaport Centre Taxable Parcel shall be calculated by (i) adding the Annual Service Special Tax Rate for Levees and Annual Service Special Tax Rate for Wet Utilities determined in Step 9 above and, (ii) multiplying such combined rate by the number of Lot Square Feet allocable to each such Seaport Centre Taxable Parcel. Step 11 After the Facilities have been accepted by the City, the Services Special Tax for the Seaport Plaza Taxable Parcel shall be calculated by multiplying the Annual Service Special Tax Rate for Levees by the number of Lot Square Feet allocable to the Seaport Plaza Taxable Parcel. If the Facilities have yet to be accepted by the City, there will be no Services Special Tax levy with respect to the Seaport Plaza Taxable Parcel. Each Fiscal Year, after the determination of the Facilities Special Tax and Services Special Tax for each Seaport Centre Taxable Parcel and the Seaport Plaza Taxable Parcel, if applicable, the City Manager shall prepare and distribute a Special Tax report to the owners of the Taxable Parcels containing, by Assessor's parcel number, the applicable annual Facilities Special Tax rate, the Facilities Special Tax, the applicable annual Services Special Tax rate, and the Services Special Tax applicable to all such Taxable Parcels (the "Special Tax Report"). The City Manager shall also prepare the Tax Collection Schedule for the County Auditor identifying the annual Special Tax liability for each Taxable Parcel (comprised of the applicable Facilities Special Tax and Services Special Tax for each such Taxable Parcel) , requesting that the Tax Collection Schedule be placed on the County's secured property tax roll for the applicable Fiscal Year. The Tax Collection Schedule shall be sent to the County Auditor no later than July 31 or such prior date required by the County Auditor for such placement. Notwithstanding the foregoing, if for any reason the Special Tax levy for a Taxable Parcel will not be included on the County's secured property tax roll for the upcoming Fiscal Year, the CFD may levy the Special Taxes for such Fiscal Year by means of a direct billing of the owners of the Taxable Parcels. In such event, the City shall issue Special Tax invoices to the owners of the Taxable Parcels which shall (i) identify the Assessor's parcel number and the applicable Facilities Special Tax and Services Special Tax for such Taxable Parcel, (ii) the amounts to be paid no later than December 10 and April 10 of the applicable Fiscal Year, and the penalty amount if the payments are not timely made, ATTY/RESO.0121/CC RESO REDWOOD CITY ROI ESTABLISH REV: 10-21-2020 MI Page 20 of 26 220