REPORT TO COUNCIL
SUBJECT
Title
Approve the FY 2024/25 Preliminary Engineer's Report for the Downtown Parking District Assessment, Adopt a Resolution of Intention to Levy and Collect an Assessment for the Downtown Parking Maintenance District for FY 2024/25, and Set the Date of June 25, 2024 for the Public Hearing on the Proposed Assessment
Report
BACKGROUND
The operation and maintenance of certain downtown parking areas are supported by an assessment district (the Downtown Parking Maintenance District, hereinafter called the "District"). On July 28, 2009, in response to property owner's approval by ballot, the City Council adopted Resolution No. 398-09 (RTC No. 09-196), ordering the formation of the District. Council also confirmed the final Engineer's Report to levy an assessment for FY 2009/10 and for each fiscal year thereafter by adjusting the annual assessment rate based upon the previous year's change in the Consumer Price Index ("CPI") for All Urban Consumers for the San Francisco-Oakland-San Jose area, as determined by the United States Department of Labor.
On July 25, 2023, the City Council approved the current (FY 2023/24) assessment rates (RTC No. 23-0513), as shown in Table 1 below:
Table 1 - FY 2023/24 Assessment Rates per Benefit Zone
Benefit Zone No.
Assessment Rate Per Deficit Parking Space
Total Deficit Parking Spaces
Total Assessment Revenue
Less County Administration (1%)
Net Assessment Revenue|1010|$0.00
56.80
$0.00
$0.00
$0.00 |1010|$207.64
172.38
$35,792.98
($357.93)
$35,435.05|1010|$90.16
2,165.86
$195,273.80
($1,952.74)
$193,321.06|1010|$27.16
459.17
$12,471.04
($124.71)
$12,346.33
Total
2,854.21
$243,537.82
($2,435.38)
$241,102.44
The benefit zones are shown on the District diagram in the Engineer's Report (Attachment 1, Appendix A). Property owners in Benefit Zone 1 (commonly known as CityLine Sunnyvale, formerly known as Town Center) are not assessed because the CityLine Sunnyvale developer is required to maintain the new p...
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