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__ _ �.�.,��.�.�. _ i � 06/09l2014 Year 1 -2014/15 Proaosed Special Benetit Work Plan and Budeet Allocations PROGRAM OR ACTIVITY FUNDED BY THE APPROXIMATE%OF ESTIMATED ANNUAL DOWNTOWN REDWOOD CITY FIRST YEAR ANNUAL COSTS COMMUNITY BENEFIT IMPROVEMENT DISTRICT BUDGET Sidewalk Operations,Beautification 53% $423,000.00 District Identity and Signage 20% $ 160,000.00 Parking ManagementBenefit Zone 1 5% $54,000.00 Administration/Corporate Operations 15% $ 120,000.00 Contingency/City and County Fees/Reserves 5% $38,781.00 TOTAL 100% $ 795,781.00 It is recognized that market conditions may cause the cost of providing goods and services to fluctuate from year to year. Accordingly, the Owners' Association shall have the right to reallocate up to 10% of the budget line item within the budget categories based on such cost fluctuations subject to the review and approval by the Board and included in the Annual Planning Report that will be approved by the Redwood City - City Council pursuant to Streets and Highways Code Section 36650. Accrued interest or delinquent payments may be expended in any budget category. Any funds remaining after the fifteenth year of operation will be rolled over into the renewal budget or returned to stakeholders. Also, if the funds are available in the fourteenth year of operations, costs for renewal may be expended. If the District is not renewed or terminated for any reason, unexpended funds will be returned to the property owners pursuant to Section 36600 of the California Streets and Highway Code. The proposed CBID special benefit services are described in more detail as follows: SIDEWALK�PERATIONS AND BEAUTIFICATION, 53%*(see parking management,points 3 and 4) This category of special benefit services provides assessed properties with the following services allocated predominantly from curb to property line. These services are funded from the property variable, - linear frontage-that will derive the majority of special benefit services from this function. In allocating these services, the CBID plan seeks to ensure proportional benefit to the benefitting parcel. Parcels with greater linear frontage will receive and pay for greater Sidewalk Operations special benefit services. Therefore is a direct relationship between what is paid and what is received by each CBID parcel. All parcels in the CBID are assessed equally and will receive the same frequency of this classification of special benefit services. The purpose of these services is to provide cleaner,more orderly,and attractive public rights of way adjacent to each assessed parcel within the CBID area. These services are over and above current RESO.#15347 MUFF#506