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7.C. - Page 54 of 54 <br />EXHIBIT B <br />CITY OF REDWOOD CITY <br />Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza) <br />Farrilifiac <br />The following is a summary of the estimated costs of acquisition of the Facilities. In <br />addition to the acquisition costs of the Facilities, the City will pay for the costs of financing the <br />Facilities and other related costs (including CFD formation costs) in an estimated amount of <br />$375,000. <br />Facility Estimated Cost (2020 $) <br />Levee and related flood protection facilities (Seaport Plaza) $1,928,071 <br />Levee and related flood protection facilities (Seaport Centre) $9,446,982 <br />Total $11,375.053 <br />0arvicac <br />It is estimated that the cost of providing the Services will be the following, with the cost <br />escalating annually thereafter. <br />Rarvira <br />Levees (Seaport Plaza and Seaport Centre) <br />Storm Drain, Water, Sewer Facilities (Seaport Centre) <br />Administration <br />Total <br />Estimated Cost (2020 <br />124,769 <br />15,000 <br />139 769 <br />To be determined according to Section 8 of the Rate and Method of Apportionment of Special Taxes for the <br />CFD. <br />Maintenance Reserves <br />The Resolution of Intention provides for the establishment of reserve funds for the <br />Services to be funded by the CFD. In the Resolution of Intention, the City Council also declared <br />its intent to dissolve the Seaport Centre Maintenance District in connection with formation of the <br />CFD and, at the request of the owners of the Seaport Centre parcels, to deposit the funds in the <br />Maintenance District reserves on June 30, 2021 into maintenance reserve funds to be <br />established and held by the City as a result of forming the CFD. <br />B-1 <br />616 <br />