75A - PH - RESO TO MODIFY CMD BOUNDARIES

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Benefit Units B, 28,500 Benefit Units C, and 124,550 Benefit Units D. Step 3. Calculate Benefit Units for Each Property. The number of Benefit Units for each identified benefiting parcel within the Modified Downtown Santa Ana CMD was computed from data extracted from City and County of Orange Assessor records and maps. These data sources delineate current land uses, property areas and dimensions of record for each tax parcel. While it is understood that this data does not represent legal field survey measurements or detailed title search of recorded land subdivision maps or building records, it does provide an acceptable basis for the purpose of calculating property based assessments. All respective property data being used for assessment computations has been provided to each property owner in the CMD for their review. All known or reported discrepancies, errors or misinformation will be corrected. Step 4. Determine Assessment Formula Based on the nature of the programs to be funded as well as other rationale outlined in Step 1 above, it has been determined that the Modified Downtown Santa Ana CMD assessments for Years 3, 4 and 5 will be based on building area (net or gross), parcel size and street frontage. Year 3 Assessment Formula Unit Costs: (Benefit Unit "A ") _ $0.10 /SF (Benefit Unit "B ") _ $0.15 /SF (Benefit Unit "C ") _ $6.00 /LF (Benefit Unit "D ") _ $0.10 /SF Step 5. Estimate Total Year 3 District Costs The total projected District costs for Year 3 of the modified CMD are as follow: $ 72500 = CMD assessment funded programs $ 300 = Non -CMD funded programs $ 2000 = pro -rated initial formation cost credits $ 500 = pro -rated initial volunteer cost credits $ 1200 = annual Board /Committee volunteer cost credits $ 100,000 = estimated annual minimum City grants and in -kind service cost credits $ 86500 = Total Year 3 CMD costs /credits 14