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6.3C <br />Page 2 <br />ALTERNATIVES <br />Council may choose not to adopt the Resolution of Intention, thereby forgoing the levy <br />of benefit assessment. <br />FISCAL IMPACT <br />The Seaport Center Maintenance District fund is kept separate from the City's funds. <br />Therefore, no fiscal impact is anticipated to the City's general fund. <br />The District's proposed operating budget for FY 2010-15 varies from $168,000 to <br />X230,900, and the proposed annual assessment is $187,000. In addition, the District <br />has approximately $1,360,000 in Capital Reserve. The amount in Capital Reserve is in <br />proportion to the asset value of the major facilities, such as the one storm and two <br />sanitary sewer pump stations, maintained by the District. Reserve funds will be utilized <br />when major unforeseen emergency repairs are needed. <br />Grace L , P. E. <br />Senior Civil Engineer <br />~-._ <br />.~ ~' <br />Chu Chang, .E., LEED A <br />Building, Infrastructure, and <br />Transportation Director <br />Pe r Vorarnetsanti, P.E., PTOE, CFM <br />City Engineer <br />c~ /~~ ~ CrI ~i <br />Peter In ram ~ <br />City Manager <br />ATTACHMENTS <br />1. Resolution <br />2. District Boundary Map <br />3. Manager's Report <br />4. Engineer's Report <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />None <br />