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Reso 2013-102
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Reso 2013-102
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Last modified
6/18/2014 8:53:45 AM
Creation date
8/8/2013 2:13:57 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
7/15/2013
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PERM
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3A Public Hearing 2013 0715
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2013\Packet 2013 0715
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Lot Size costs: Benefit Zone 1 $0.0725835 per square foot /year <br />Benefit Zone 2 $0.0478005 per square foot /year <br />Future Residential Condo costs: $0.20 per square foot of parcel unit square footage <br />Assessment District Revenue Generation from each property variable: <br />Linear Frontage (Both Zones): $ 116,364 <br />Building Square Footage: $ 49,918 <br />Lot Size: $ 192,771 <br />Future Residential Condos <br />Total: $ 359,053 <br />Cap. <br />The CBD budget and assessments may be subject to changes in the Consumer Price Index (CPI) <br />for the San Francisco — Oakland — San Jose Consumer Price Index for all urban consumers from <br />February to February, with annual increases not to exceed 3% per year. Increases will be <br />determined by the Owners' Association /District Management Corporation and will vary <br />between 0% and 3% annually. Changes in land use, development of empty parcels, conversion <br />of tax exempt to profitable land uses, demolition of existing buildings, and creation of new <br />parcels through new building or residential condo development may alter the budget from year <br />to year based upon the changes in the building square footage of an individual parcels. Since <br />linear frontage and lot size normally are not altered in the redevelopment of a site, the only <br />changes realized in the CBD will be through the building square footage. In addition, changes in <br />the budget may occur due to the conversion of single parcels to multiple parcels due to the <br />construction of residential or commercial condos. <br />Bonds: <br />The District will not issue any bonds related to any program. <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% or $107,716.00 in assessment <br />contribution to the District, the City Council may adopt a Resolution of Intention to mail out <br />ballots to all affected property owners. The City will then hold a public hearing and tabulate <br />the mail ballots. The Downtown San Leandro CBD will be formed if the weighted majority of all <br />returned mail ballots support the District formation and if the City Council adopts a resolution <br />of formation to levy the assessments on the benefiting parcels. <br />Duration: <br />The Downtown San Leandro CBD shall have a fifteen -year term which shall commence on July <br />1, 2013 and expire on June 30, 2028, with operations winding down by December 31, 2028. <br />7 <br />
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