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CANVASS AND STATEMENT OF RESULT OF ELECTION <br />CITY OF REDWOOD CITY <br />Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza) <br />I hereby certify that on November 23, 2020, 1 canvassed the returns of the election held <br />on November 23, 2020, in the City of Redwood City Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza) (the "CFD"), and the total number of ballots cast in the CFD and <br />the total number of votes cast for and against the measure are as follows and the totals as shown <br />for and against the measure are full, true and correct: <br />City of Redwood City <br />Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza) <br />Special Tax Election, November 23, 2020 <br />Qualified <br />Landowner Votes <br />Votes Cast YES NO <br />77 11 q 1 0 <br />BALLOT MEASURE: Shall the following measure be adopted: <br />authorizing the City of Redwood City ("City") to (i) levy special taxes <br />solely on lands within City of Redwood City Community Facilities <br />District No. 2020-1 (Seaport Centre/Seaport Plaza) ("CFD") in <br />accordance with the rate and method contained in the City Council <br />resolution establishing the CFD ("Formation Resolution"), to pay for <br />the public facilitigs and public services specified in the Formation <br />Resolution and to pay the costs of the City in administering the <br />CFD, which services special taxes are expected to be levied in <br />perpetuity and at the estimated rate of $0.15 per taxable building <br />square foot starting in fiscal year 2021-22 for Seaport Centre wet <br />utility maintenance (assuming an annual budget of $150,000) and <br />at the estimated rate of $0.085 per taxable building square foot <br />starting in fiscal year 2023-24 for levee maintenance (assuming an <br />annual budget of $100,000), in each case with annual escalation <br />thereafter, and which facilities special taxes are expected to be <br />levied over a period of 16 years and at a variable rate per taxable <br />building square foot (estimated to be $1.01 per taxable building <br />square foot starting in fiscal year 2023-24) that is expected to raise <br />an amount sufficient to pay the purchase price of levee <br />improvements in annual installments, such purchase price, <br />estimated to be $11,500,000, to be fully amortized over 15 years, <br />plus interest at a rate that changes annually based on the Wall <br />Street Journal prime rate as published each June 1, plus 200 basis <br />