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THE CITY OF 07 CITY COUNCIL AGENDA REPORT pL£ASANTONo December 15, 2009 Finance TITLE: PLEASANTON DOWNTOWN BUSINESS IMPROVEMENT DISTRICT ADVISORY BOARD REPORT AND BUDGET AND LEVY OF THE ASSESSMENT FOR 2010 SUMMARY The Pleasanton Downtown Association "PDA Advisory Board report and budget for 2010 are attached. The Advisory Board is not recommending any modifications to the district boundaries or to the method of levying the assessment for 2010. Adoption of the report and budget will cause the levy of the assessment for 2010. RECOMMENDATION Staff recommends that the Council approve the Resolution (Attachment 1) accepting and approving the report and annual budget of the Pleasanton Downtown Association advisory board and levying the annual assessment for 2010. FINANCIAL STATEMENT The Pleasanton Downtown Business Improvement District assessment revenue is estimated at $60,000. In accordance with an agreement between the City and the PDA, the City agrees to provide annual matching funds equal to the annual assessment. As a result, the City grant for 2010 will be approximately $60,000. In addition to this amount, the City General Fund contributes approximately $60,000 in direct and indirect funding which includes staff time to administer the PDA assessments and contract, assistance with the Hometown Holiday Celebration, as well as the cost to maintain downtown planters, cleaning sidewalks, garbage pickup, and staff time for special events.