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THE CITY OF 08 CITY COUNCIL AGENDA REPORT pL£ASANTONe June 15, 2010 Economic Development TITLE: SECOND READING AND ADOPTION OF ORDINANCE NO. 2004 TO RENEW THE TRI- VALLEY TOURISM BUSINESS IMPROVEMENT DISTRICT AND ADOPTION OF A RESOLUTION MODIFYING THE MANAGEMENT DISTRICT PLAN SUMMARY As the next procedural step in the renewal of the Tri- Valley Tourism Business Improvement District, on June 15, 2010 the City of Pleasanton will hold a second reading of the ordinance to renew the Tri Valley Tourism Business Improvement District. In addition, the City of Pleasanton as the lead agency in administering the district's assessments will adopt a Resolution Modifying the Management District Plan that governs the TVTBID. With no majority protest noted, the ordinance would go into effect 30 days thereafter. RECOMMENDATION Adopt Ordinance No. 2004 to renew the Tri Valley Tourism Business Improvement District and adopt a Resolution Modifying the Management District Plan of the Tri Valley Tourism Business Improvement District. FINANCIAL STATEMENT There is no significant fiscal impact to the City. The City's Tri Valley Convention Visitors Bureau membership dues will continue at the city membership rate of $2,500 annually. Staff costs generated by the administration of the assessment district and /or the collection of funds will continue to be offset by the administrative fees received as described in the Management District Plan.