AgdaPkt 2014-06-09 Closed and Joint SA

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9.A. - Page 8 maintenance), District Identity and Signage (such as marketing and promotional activities), Parking Management, Administration/Corporate Operations, and Contingency/City and County Fees and Reserves. Section 5. The activities of the CBID will be funded through an annual benefit assessment against lots and parcels of real property within the boundaries of the CBID. The amount of the proposed assessment is $795,781.00 for Fiscal Year 2014-15. Section 6. The initial duration of the CBID is proposed to be 15 years. Section 7. No bonds will be issued in connection with the CBID. Section 8. For a complete description of the CBID, and its boundaries, activities, and proposed real property assessment, reference is made to the Management District Plan entitled the "Downtown Redwood City Community Benefit Improvement District Management District Plan" and dated June 2, 2014, and to the Engineer's Report entitled the "Downtown Redwood City Community Benefit Improvement District District Assessment Engineers Report" and dated June 2, 2014, each of which is on file in the Office of the City Clerk, available for public inspection, and incorporated herein by reference. Section 9. On July 28, 2014 at 7:00 PM or as soon thereafter as the matter may be heard, in the City Council Chambers located at 1017 Middlefield Road, Redwood City, CA 94063, the City Council will hold a public hearing on the establishment of the CBID and the levy of assessments. At the public hearing, the agency shall consider all objections or protests, if any, to the proposed assessment. At the public hearing, any person shall be permitted to present written or oral testimony. The public hearing may be continued from time to time. Section 10. The City Clerk is directed to mail notice of the public hearing, including an assessment ballot, to affected property owners in the manner required by Section 53753 of the Government Code and Article XIII D, Section 4 of the California Constitution. Section 11 . Assessment ballots will be accepted and tabulated by the City in the manner set forth in the attached "Procedures for the Completion, Return, and Tabulation of Assessment Ballots", which is incorporated herein by reference. Section 12. A majority protest exists if the assessment ballots submitted, and not withdrawn, in opposition to the proposed assessment exceed the assessment ballots submitted, and not withdrawn, in its favor, weighting those assessment ballots by the amount of the proposed assessment to be imposed upon the identified parcel for which each assessment ballot was submitted. If there is a majority protest against the imposition of the assessment in connection with the CBID, the CBID will not be formed. ATTY/RESO.2986/CC RWC CBID RESO OF INTENT REV:06-04-14 PT Page 2 of 8