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The Committee recommends that the City Council approve the proposed 5 -Year Plan. <br /> 3. Discussion Regarding Eden Road Assessment District <br /> Nick Thom gave a PowerPoint presentation regarding the Eden Road Assessment District <br /> for roadway improvements. In 2007 Council created a plan line for Eden Road in <br /> conformance with the General Plan. All the major parcels of land needed for the <br /> roadway have been acquired and we are considering an assessment district to finance <br /> construction of the roadway. <br /> Uche indicated an assessment district is created because the proposed improvements add <br /> value to the parcels within the district. With the new road and underground utilities, <br /> property values will increase. The City must look for ways to fund the portion of the <br /> work that benefits the general public. We will look for grants to fund the City's share of <br /> the cost. <br /> Nick talked about "Special Benefits" consisting of paved roads, available utilities and <br /> less traffic congestion that factor into property values. Councilmember Souza asked if <br /> this is a onetime charge to the property owners. Uche replied yes, however the property <br /> owners will have the option of paying in lump sum or making payments over time. The <br /> payback period will depend on whether the property owners' share of project costs is <br /> funded through a bond sale or advanced by the City out of its own resources. Uche <br /> suggested the following steps: 1) outreach to property owners; 2) have an assessment <br /> engineer assign benefit and financial responsibility; and 3) Council establish the district <br /> if simple majority of property owners, based on required legal formula, approve the <br /> district. Property owners are committed to paving their fair share towards the <br /> construction of Eden Road. Councilmember Souza expressed her concern about property <br /> owners' perception that by including the Port of Oakland in the district, the City would be <br /> stacking the votes for the district. However, Uche said that if the Port of Oakland <br /> receives special benefits, then it should be in the district and have a vote on the formation <br /> of the district. All votes are weighted by the value of improvements received (which <br /> corresponds to the payment required). <br /> Committee Recommendations: <br /> The Committee recommends that the City Council approve moving forward with the <br /> assessment district. <br /> 4. Discussion Regarding Proposed BART Paid Parking <br /> City Manager Hollister introduced the concept of BART's paid parking, which will be <br /> instituted for the entire BART parking lot at the San Leandro Station on November 1, <br /> 2010 and the Bayfair Station on November 15, 2010. The plan is to monitor residential <br /> parking issues that may result from BART's action. The concern is that customers will <br /> • <br />