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05/24/2010 <br /> CITY OF REDWOOD CITY <br /> SEAPORT CENTRE MAINTENANCE DISTRICT <br /> REVISED PROPERTY OWNER BALLOT <br /> Exhibit "C" <br /> METHOD OF ASSESSMENT SPREAD <br /> SEAPORT CENTRE MAINTENANCE DISTRICT <br /> The assessments are apportioned according to the special benefits received by the <br /> parcels of land within the District. The special benefit derived by each parcel is <br /> determined in relationship to the entirety of the annual maintenance and operation <br /> expenses of the improvements to be maintained by the District. No assessment has <br /> been apportioned on any parcel that exceeds the reasonable cost of the proportional <br /> special benefits conferred on that parcel. <br /> Only special benefits are assessed and any general benefits have been separated from <br /> the special benefits for purposes of this report. For such purposes, the general benefits <br /> derived from the subject improvements are estimated to be $0. While the public-at-large <br /> may visit the District, it is expected to do so only in connection with the various <br /> businesses on the parcels within the District. Absent the improvements, real estate <br /> development would not be possible within the District. Consequently, all of the <br /> improvements are required by the parcels within the District and all of the benefits <br /> associated with the improvements accrue solely to the parcels in the District. <br /> The method of assessment to the various parcels within the Seaport Centre Maintenance <br /> District shall be calculated as follows: <br /> c= ( Cxa/A) <br /> where: <br /> c individual parcel assessment. <br /> C total District Operation and Maintenance budget for the fiscal year. <br /> a individual parcel area. <br /> A summation of all Maintenance District parcel areas. <br /> 4 <br /> RESO.#15023 <br /> 17 <br />