REPORT TO COUNCIL
SUBJECT
Title
Approve the Fiscal Year (FY) 2014/15 Preliminary Engineer's Report for the Downtown Parking District Assessment, Adopt a Resolution of Intention to Levy and Collect Assessment for the Downtown Parking Maintenance District for FY 2014/15, and Set the Date of July 15, 2014 for Public Hearing
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 owners ballot approval, the City Council adopted Resolution #398-09 (RTC 09-196) ordering 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 (All Urban Consumers for the San Francisco-Oakland-San Jose area, as determined by the United States Department of Labor, the "CPI").
On July 9, 2013, the City Council approved the current (FY 2013/14) assessment rates based upon the CPI change of +2.3809% from April 2012 to April 2013, as shown in Table 1 below:
Table 1 - FY 2013/14 Assessment Rates per Benefit Zone
Benefit Zone No.
FY 2013/14 Assessment Rate
Per Deficit
Parking Space
Total Deficit
Parking Space
FY 2013/14
Net Assessment Revenue
(less 1% of the County Administration Cost)|1313|$0.00
56.80
$0.00|1313|$150.68
172.38
$25,714.46|1313|$65.43
2,269.79
$147,026.98|1313|$19.71
336.39
$5,762.41
Total
2,835.36
$178,503.85
The benefit zones are shown on the District diagram in the Engineer's Report. Property owners in Zone 1 (primarily Town Center) are not assessed due to the fact that Town Center owners are required to maintain the new parking facilities as well as the existing parking structure adjacent to Target. Additionally, property owners in Zone 1 south of Iowa Avenue ...
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