Res20 15901 - Laserfiche WebLink

Browse Search

10/26/2020 timing, and description of necessary and appropriate repairs to the Levees within the (i) immediate future (six months thereafter), (ii) near term (one to three years thereafter), and (iii) future period (four years and later). The City shall commission a Conditions Report for Levees in connection with the acceptance of the Facilities by the City, and thereafter, when the City and the Property Owners deem necessary, but in no event more than ten years after the issuance of the most recent Conditions Report for Levees, unless otherwise consented to by the Property Owners; whenever a Conditions Report for Levees is prepared, it shall be prepared within a reasonable time before the City's budgeting process. "Conditions Report for Wet Utilities" means the report commissioned by the City, in consultation with the Property Owners that contains, among other things, an engineer's opinion of probable cost, timing, and description of necessary and appropriate repairs to the Wet Utilities within the (i) immediate future (six months thereafter), (ii) near term (one to three years thereafter), and (iii) future period (four years and later). The City shall commission a Conditions Report for Wet Utilities in connection with the CFD Formation Proceedings, and thereafter, when the City and the Property Owners deem necessary, but in no event more than ten years after the issuance of the most recent Conditions Report for Levees, unless otherwise consented to by the Property Owners; whenever a Conditions Report for Wet Utilities is prepared, it shall be prepared within a reasonable time before the City's budgeting process. "County" means the County of San Mateo, California. "Escalator" means the lesser of the following: (i) the annual increase, if any, in the Consumer Price Index (CPI) for All Urban Consumers in the San Francisco -Oakland -Hayward region (base years 1982-1984=100) published by the Bureau of Labor Statistics of the United States Department of Labor, or, if such index is no longer published, a similar escalator that is determined by the City to be appropriate, and (ii) five percent (5%). "Existing Levees" means all levees for the protection of Seaport Centre from inundation, any and all retaining walls, and any and all outboard rock slope protection facilities necessary for erosion control together with any and all appurtenances to any of the above. "Facilities" has the meaning given the term in the CFD Formation Proceedings. "Facilities Special Tax" means the special tax levied against Fully Taxable Parcels to pay (i) the Net Acquisition Cost for the Facilities, (ii) annual interest at the Adjusted Market Interest Rate, and (iii) CFD Advanced Costs (as long as such costs are not already in the Net Acquisition Cost as defined under the Purchase Agreement). "FAR" means floor area ratio. "Fiscal Year" means a period beginning July 1 and ending the following June 30. "Fully Taxable Parcel" means any Taxable Parcel in the CFD which is not a Partially Taxable Parcel. ATTY/RESO.0121/CC RESO REDWOOD CITY ROI ESTABLISH RESO. NO. 15901 REV: 11-02-2020 MI MUFF NO. 506 Page 9 of 22