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S.A. - Page 4 of 29 <br />• Establishes each jurisdiction's maximum financial contribution (with percentage of shared obligation) <br />as follows: <br />Town of Atherton $1,350,000 (18.11%) <br />City of Menlo Park $1,153,000 (15.47%) <br />City of Redwood City $2,658,000 (35.65%) <br />County of San Mateo $2,294,000 (30.77%) <br />Total $7,455,000 (100%) <br />Next Steps <br />Following the approval of the MOU, the FSLRRD intends to complete the remaining pre -construction <br />activities. Remaining activities include obtaining regulatory permits and acquiring easements and rights <br />from land owners to construct and operate the improvements necessary for the project. The project is <br />scheduled to be advertised for construction by the FSLRRD in early 2021. <br />FISCAL IMPACT <br />The project has available funds budgeted through the Capital Outlay Fund in the amount of $3,663,548. <br />Not including the grant, the maximum contribution for the City's share of costs is $2,658,000 under the <br />terms of the MOU. The City would incur annual costs to operate and maintain the new improvements for <br />the first five years after construction, and these costs would be reimbursed by the funds the FSLRRD <br />collects from the other parties in the MOU. <br />The LIPS Agreement would allow the City to be reimbursed for costs incurred on the Project up to <br />$1,238,000. The grant funds are budgeted in the Other Restricted Donations/Grant Fund, with a current <br />available balance of $1,280,680. <br />ENVIRONMENTAL REVIEW <br />The activities are not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. Informationally, on February 24, 2020, the San <br />Mateo County Flood and Sea Level Rise Resiliency District certified an Initial Study/Mitigated Negative <br />Declaration (IS/MND) for the project. Consistent with the California Environmental Quality Act (CEQA), <br />the ISMND identified potential adverse effects during construction, which will be reduced to less -than - <br />significant levels through the implementation of specific mitigation measures as identified in its Mitigation <br />Monitoring and Reporting Program (MMRP). <br />Page 4 of 5 <br />.,A . <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />