RES 10411 - Laserfiche WebLink

• Held the PDA Annual Meeting on January 21, 2010; highlights included installation of the 2010 Board of Directors, recognition of the departing directors and recognition of the 2009 quarterly NEAT award recipients. • Continued a proactive approach toward downtown vacancies by maintaining an inventory of potential tenants, assisting property owners in listing available properties and working with the city's Economic Development Director. Met with property owners, tenants, potential tenants and commercial agents. • The Parking Subcommittee, charged with finding ways to improve parking, continued to work with property owners on different parking strategies. • Continued to grow the Associate Member program, offered to Tri- Valley businesses not located in the downtown district, to over 180 members • Continued to increase strategic alliances and collaborate with community Partners: Pleasanton Chamber of Commerce, Livermore Downtown Association, Firehouse Arts Center, Pleasanton Cultural Arts Foundation, Valley Humane Society, the Museum, the Library, Pleasanton Heritage Association, Alameda County Fairgrounds, Livermore Valley Winegrowers Association, and Tri- Valley Convention & Visitors Bureau. • Assisted numerous downtown communities providing tours and information as well as sharing the success of our organization and our downtown. • Received commendation for program achievements and recognized as both a California and National 2010 Main Street Community. • Received recognition for the downtown district as "2010 Best of..." awards by the Pleasanton Weekly. • Maintained status as a Community of Character Organization. BUDGET The 2011 budgeted assessment revenue and City matching funds are projected to be $120,000. This amount is the same as was funded in 2010. There are no proposed changes to the assessment formula. In late 2009 the City and the PDA entered into a new five -year agreement, whereby the City agrees to match the annual assessment revenue generated by the businesses within the downtown district. The annual assessment and City matching funds represent approximately 31% of the total 2011 budget and event revenue comprises 60% of the budgeted revenues (does not include reserves & appropriated funds). The Board believes it is prudent to maintain a reserve of $60,000 for 2011 due to: (1) the economic forecasts for the upcoming year; and (2) a significant portion of the budget is dependent on the success of events which is contingent on weather. Additionally, the PDA has a total of $84,155.28 in appropriated funds for 2011. This funding will provide for additional marketing, promotion of the Downtown Gift Card, Downtown Hospitality initiatives, membership education and other key initiatives of the organization. The budget includes a full -time Executive Director, a full -time Event Coordinator and a part-time Office Manager. Insurance expense includes bonding, general liability, workers compensation, event /liquor liability, Employment Practices and Board of Director's Omissions and Errors coverage. For 2011, the PDA is proposing a total of 33 events, with seven street closure days. The proposed events are as follows: five First Wednesday Street Parties (May, June, July, August and September); 14 Concerts in the Park in Lions Wayside Park (June through early - September); two Antique Faires (May and October); two Wine Strolls (February and July); one Installation Dinner (January); one Annual Meeting (April); two Sidewalk Sales /Festivals (May and October); one Board Retreat (mid - year); three membership mixers (April, August and October), one Downtown Magical Holiday Evening (November); and one Earlier Than the Bird (November). 4