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9.B. - Page 20 <br /> FREQUENTLY ASKED QUESTIONS AND ANSWERS REGARDING THE PROPOSED <br /> DOWNTOWN REDWOOD CITY COMMUNITY BENEFIT IMPROVEMENT DISTRICT <br /> (CBID) <br /> What is a CBID? <br /> In brief, the proposed Downtown Redwood City Community Benefit Improvement District <br /> (CBID) is a local enabling ordinance that allows for the establishment of a new special benefit <br /> district. This "special benefit" district functions to create a stable revenue source to fund these <br /> special benefit services that are established by a mail balloting of affected property owners <br /> culminating in the adoption of a resolution by the City Council. <br /> Special benefits are those services over and above what the City is currently providing to <br /> Downtown property owners. During our initial interviews, many long time and newer property <br /> owners alike believe that City services are currently good, but more is needed to accommodate <br /> the growth anticipated for downtown in the next 5 years. <br /> In order to establish the CBID, the property owners must 1) see the need for such special <br /> benefit services, 2) survey all of the property owners to determine their level of support of <br /> special benefit services, their type and frequency, 3) develop a plan for services which spreads <br /> the costs of those services to all benefitting property owners, 4) petition the City Council to <br /> bring the CBID plan to a vote, 5) have a mail ballot of all of the property owners to determine if <br /> there is support to create the district. The City Council must hold a public hearing to verify the <br /> level of support of the weighted property owners in the district. Article XIII, Section D of the <br /> California State Constitution, governs the procedures for public hearing notification and <br /> adoption of a property assessment district. <br /> Whv is a new CBID being considered for Downtown Redwood City at this time? <br /> Downtown Redwood City will probably be experiencing more growth and land use changes in <br /> the next 5 years than at almost any other time in its history. Over 2,000 new residential units <br /> are approved or are in the planning stage bringing more than 3,000 new residents to <br /> downtown. A 300,000sf Class A office building recently broke ground. Electrification of Cal <br /> Train is in current discussions with the goal of bringing faster service to downtown. Lastly, <br /> Kaiser Health is increasing their hospital footprint in Downtown by adding 280,000 sf and 149 <br /> beds which will be completed by Fall 2014. <br /> It is the feeling that even with the new influx of property taxes arising from new development, <br /> Downtown property owners will need additional services to keep pace with the exciting growth <br /> of our downtown. The purpose of the CBID is to provide a very high level of sidewalk services, <br /> brand downtown, provide effective parking management, market and promote the area <br /> through multiple programs and activities, and create a new corporation of Downtown property <br /> owners to work with the City to make this into the premier urban area in the Peninsula. <br /> 5 <br />