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Please refer to additional definitions in Section D herein relating to the Buydown of Outstanding <br /> Bonds, and to additional definitions in Section I herein relating to the Prepayment of Special <br /> Tax. <br /> B. ASSIGNMENT TO LAND USE CLASSES <br /> Each Fiscal Year, all Taxable Property within CFD No. 2010 -1 shall be classified as Developed <br /> Property or Undeveloped Property, and shall be subject to Special Taxes in accordance with this <br /> Rate and Method of Apportionment determined pursuant to Sections C and E herein. <br /> C. MAXIMUM SPECIAL TAX RATE <br /> Residential Property shall be assigned to Land Use Classes 1 through 4, as listed in Table 1 <br /> below, based on the type of use, Residential Floor Area, and the Location for each residential <br /> dwelling unit. Non - Residential Property shall be assigned to Land Use Class 5. Hotel Property <br /> shall be assigned to Land Use Class 6. Prior to the issuance of CFD No. 2010 -1 Bonds, the <br /> Maximum Special Tax on Developed Property (set forth in Table 1) may be reduced in <br /> accordance with, and subject to the conditions set forth in this Section C, without the need for <br /> any proceedings to make changes as permitted under the Act. These Maximum Special Tax <br /> reductions, if applicable, will be made if it is reasonably determined by the CFD Administrator <br /> that the overlapping debt burden as defined in the City of Redwood City "Statement of Local <br /> Goals and Policies Concerning the Use of the Mello -Roos Community Facilities Act of 1982" <br /> adopted by the Council on March 22, 1999, (the "Goals and Policies ") calculated pursuant to the <br /> Goals and Policies based upon the Maximum Special Tax on Developed Property exceeds the <br /> City's maximum level objective set forth in the Goals and Policies, the Maximum Special Tax on <br /> Developed Property may be reduced to the amount necessary to satisfy the City's objective with <br /> respect to the maximum overlapping debt burden level with the written consent of the CFD <br /> Administrator without need for any additional City Council proceedings. Each Maximum <br /> Special Tax reduction for a Land Use Class shall be calculated separately, as reasonably <br /> determined by the CFD Administrator, and it shall not be required that such reduction be <br /> proportionate among Land Use Classes. The reductions permitted pursuant to this paragraph <br /> shall be reflected in an amended notice of Special Tax lien which the City shall cause to be <br /> recorded by executing a certificate in substantially the form attached herein as Exhibit "A ". <br /> 1. Developed Property <br /> (a) Maximum Special Tax <br /> The Maximum Special Tax that may be levied and escalated as explained further in Section <br /> C.1.(b) below in any Fiscal Year for each Assessor' s Parcel classified as Developed <br /> Property is shown below in Table 1. <br /> B -7 <br /> 302108_1.doc <br />