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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 />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 />