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Flat Parcel Fee -each individual Assessor's Parcel is assessed the Flat Parcel <br /> Rate ($425). <br /> Street Fronta a Rate Land Area Rate Buildin Area Rate Flat Parcel Rate <br /> $6.00 er linear foot 10¢ er s uare foot 15¢ er s uare foot $425 er arcel <br /> During the term of the CMD, the annual budget and corresponding assessments <br /> may be adjusted to reflect an annual cost of operations increase of five percent. <br /> Since the CMD is planned for afive-year term, maximum assessments for future <br /> years (years 2-5) must be set at the inception of the CMD. While future <br /> inflationary and other program cost increases are unknown at this point, abuilt-in <br /> maximum increase of five percent per year is incorporated into the projected <br /> program cost and, in turn, the resulting assessment rates for the five-year life of <br /> the CMD. These figures are shown in the table below. Assessment rates may <br /> not exceed those indicated below. <br /> Five-Year Maximum Assessment Rates (Includes a 5 percent cap on annual <br /> increases) <br /> Rate Year One Year Two Year Three Year Four Year Five <br /> Street Frontage Fee $6 $6.30 $6.62 $6.95 $7.30 <br /> Land Area Fee 10¢ 10.5¢ 11 ¢ 11.6¢ 12.2¢ <br /> Building Area Fee 15¢ 15.8¢ 16.6¢ 17.4¢ 18.3¢ <br /> Flat Parcel Fee $425 $446 $469 $491 $516 <br /> Any annual budget surplus or deficit will be incorporated into the subsequent <br /> year's CMD budget, and subsequent annual assessments will be set to account <br /> for surpluses or deficits carried forward. <br /> <br /> G. Time and Manner of Collecting Assessments <br /> Pursuant to analogous law pertaining to Property and Business Improvement <br /> Districts, the Santa Ana Downtown Community Management District assessment <br /> will be collected by the County of Orange in the same manner as annual property <br /> taxes are collected, and will appear as a separate line item on the annual <br /> property tax bills prepared and issued by the County. Property tax bills are <br /> generally distributed to property owners in the fall, and payment is expected by <br /> lump sum or in two installments. The County of Orange shall distribute the <br /> assessments to the City which will, in turn, forward the assessments to the <br /> 15 <br /> 80A-19 <br /> <br />