RES 01114 - Laserfiche WebLink

B-13-1996 2=O1AM FROM p.~ BUDGET DISCUSSION: The PDA annual assessment revenue for 2001 was $57,750. The assessment revenue budget for 2002 is projected at $56,000. The $56,000 amount is reflecting a possible downturn in the economy and/or a possible increase in vacancies. In addition, there are no proposed changes to the assessment formula. The City and the PDA are beginning thc third year of a five-year agreement, whereby the City agrees to match the annual assessment revenue generated by the businesses within the Downtown. The annual assessment and the City match represent approximately 39% of the total 2002 budget, with event revenues comprising 57% of total budgeted revenue. This year the PDA is proposing a total 0£24 events with 10 street closure days. The proposed events are as follow: (3) 1~' Wednesday Street Parties (May, June, & August); (14) Concerts in the Park at Wayside Park; (2) Wine Strolls; (1) Heritage Days BBQ & Festival; (1) Hot Rod Heaven; (1) Rib Cook Off; (2) Antique Fairs. Fundraising will include &e sale of promotional items (Walking Tour Brochures, T-shirts & wine glasses). The goal is to maximize revenue opportunities from the events sponsored by the PDA. The budget includes a part-time Office Manager budgeted for an average of 20 hours per week and a part-time Events Coordinator. The Executive Director left the PDA in late June. The City of Pleasanton successfully facilitated a recruitment process for a new Executive Director. Pamela Stoddard has been chosen as PDA's new Executive Director, and will begin on November 12, 2001. Frances Hewitt served as Acting Executive Director in the interim. Insurance includes general liability, liquor liability, a special policy for Cruise Night, and Board of Director's liability.