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<br />F. Proposed Sources of Financing, Including Method and Basis of <br /> Levying of Assessment <br /> <br /> <br />The Downtown Santa Ana Community Management District anticipates two <br />general sources of revenue – special assessment revenue which is the principal <br />source of funding (97 percent), and program income which includes funding from <br />sources such as sponsorships, sales of goods and services, dues, interest <br />income, and the like. The Downtown Santa Ana Community Management <br />District is a benefit assessment-type district whereby special service and district <br />program costs are apportioned among benefitting properties based on the <br />special benefit each property is expected to derive from those services and <br />programs. This method of financing such special services and programs is based <br />upon the levy of assessments on real property that benefit from proposed <br />improvements and activities. <br /> <br />The method and basis of spreading program costs vary from one district to <br />another based on local geographic conditions, types of programs and activities to <br />be undertaken, and size and development complexity. Further, general benefits <br />may not be incorporated into the assessment formula and levied on the CMD <br />properties; only special benefits and cost may be considered. Assessment <br />formulae typically relate to the physical factors of a parcel such as street <br />frontage, lot size, building size, location. The formula may base assessments on <br />a single factor or a combination of factors. <br /> <br />Based on the program activities to be funded, which relate substantially to the <br />pedestrian-oriented sidewalk areas/public walkways, parcel size and physical <br />improvements, it is determined that the assessments be based in part on four <br />property-related elements: <br /> <br />? <br /> The amount of adjacent street/sidewalk frontage (linear feet) <br />? <br /> The parcel size (total land area) <br />? <br /> The building area <br />? <br /> A flat parcel fee <br /> <br />These variables were developed by the consulting engineer and presented to a <br />focus group that was conducted for purposes of gathering a consensus of <br />affected property owners. The focus group included key stakeholders in the <br />Downtown. The variables and formulae were verified as equitable by an <br />Engineer's Report. <br /> <br />The assessment formula utilized in the Downtown Santa Ana Community <br />Management District is comprised of these four variables, each with a relative <br />weighting derived from program benefit. The variables are: <br /> <br />12 <br /> <br />