Park Enhancement District Presentation City of Claremont Proposed Park Enhancement District Presentation April 11, 2006

Purpose of Park Enhancement District Acquisition Park Land (Passive or Active) Wilderness Parkland Easements/Right-of-ways Capital Expenditures Expansions Enhancement Renovations/Rehabilitation Facilities

District Will Fund Debt Service Capital Expenditures Administration Rehabilitation and Reconstruction Projects

General and Special Benefit General Benefit Regular Maintenance of the City’s Park & Recreational System General Fund LLD No. 1 Special Benefit Enhancement & Expansion of the City’s Park & Recreational System

Special Benefits of Enhancement Enhanced sense of pride within the community Heightened business opportunities The esthetic value of green space and recreation areas in the urban environment Increased social opportunities The enhanced desirability of the property Expanded educational and recreational opportunities afforded by preservation of natural wilderness parkland habitat

Assessment Methodology Weighted Equivalent Benefit Unit (EBU) Methodology (Similar to the current LLD) Single Family Residential Parcel = 1 EBU One EBU = Approximately $100 EBUs for other Property Types Equated to Single Family Residential Parcel

Equivalent Benefit Units

Equivalent Benefit Units

Priority of Assessments Debt Service Cost of Administration Capital Expenditures & Rehabilitation Projects Priority established by City

Estimated Assessments Total Estimated EBUs 13,737.62 Estimated Bond Issue $11,250,000 5 Year Non-Bonded Revenue $2,061,510 Annual Levy Estimated Max Debt Service $961,460 Estimated Incidental Costs $25,000 Non-Bonded Improvement Collection $387,302 Total $1,373,762

Formation Process Draft Engineer’s Report Intent Meeting Mail Notices and Ballots 45 day prior to Public Hearing Public Hearing Tabulate Ballots Ballots weighted by assessment amount Simple Majority City Council approves the District formation & levy of assessments

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