Reso 2013-102 - Laserfiche WebLink

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