RES 01122 - Laserfiche WebLink

BUDGET DISCUSSION: The PDA annual assessment revenuc 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 'md/or a possible increase in vacancies. In addition, there are no proposed changes to the assessment formula. The CiD' and thc PDA arc beginning thc third year ora 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 of 24 events with 10 street closure days. Thc proposed events are as follow: (3) 1~' Wednesday Street Parties (May, June, & August); (14) Concexxs 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. Fundralsing will include the 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 Evcnt~ 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 He~tt served as Acting Executive Director in the interim. insurance includes genera] liabiliw, liquor liability, a special policy for Cruise Night, and Board of Director's liability.