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fnnhmen+ <br /> 9.A. - Page 50 <br /> Assessment Engineer's Report <br /> New City America has contracted with Ed Henning and Associates to compile the required <br /> engineer's report under the guidelines of Proposition 218, Article XIIID of the California State <br /> Constitution. <br /> In preparing the engineer's report for the Downtown Redwood City CBID Management District <br /> Plan, the engineer concluded that the special benefit to each parcel in the various benefit zones <br /> was found to be proportional to the property variable and their apportionment. <br /> An Engineer's report for the CBID is provided in the Appendix. <br /> Bonds: <br /> The District will not issue any bonds related to any program. <br /> Section 6 <br /> Implementation Timetable <br /> District Formation: <br /> The District formation and modification requires a submission of petitions from property <br /> owners representing more than 30% of the total assessments. <br /> Once the City verifies the petitions totaling a minimum of 30% of the weighted property <br /> owners, or $ 238,734.00 in assessment contribution to the new CBID, the City Council may <br /> adopt a Resolution of Intention and mail out ballots to all affected property owners. The City <br /> will then hold a public hearing and tabulate the mail ballots. The Downtown Redwood City <br /> Community and Benefit Improvement District will be formed if the weighted majority of all <br /> returned mail ballots support the CBID formation and if the City Council adopts a resolution of <br /> formation to levy the assessments on the benefiting parcels. We anticipate that this process <br /> will be completed by the end of July 2014. <br />