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BACKGROUND <br /> Chapter 3, Section 36530 of the Parking and Business Improvement Area Law of 1989 <br /> requires the City Council to do the following to levy the annual assessment for the PDA <br /> Business Improvement District: <br /> ✓ Appoint an advisory board to prepare the annual budget with a report <br /> describing the improvements and activities of the downtown improvement <br /> district and the related funding sources. The report will also outline any <br /> recommended changes to the boundaries of the district and/or the <br /> methodology of assessing each business. <br /> ✓ Accept the report and budget and set a public hearing to levy the <br /> assessments. <br /> ✓ Open and close the public hearing and adopt by resolution the assessments. <br /> DISCUSSION <br /> Attached are the Advisory Board's 2012 report and the proposed budget for the PDA <br /> assessments and other revenues for the 2012 calendar year. The attached report and <br /> budget contain the following required information: <br /> 1. Any proposed changes in the boundaries of the district. (For 2012, there are no <br /> proposed boundary changes.) <br /> 2. The improvements and activities to be funded during the calendar year. <br /> 3. An estimate of the cost of providing the improvements and activities. <br /> 4. The method of levying the assessment in sufficient detail to allow each business <br /> owner to estimate the amount to be levied against the business for the year. <br /> (There are no proposed changes in the method of levying the assessment. <br /> Currently assessments are based on proximity to Main Street, with a minimum of <br /> $50 and a maximum of $350.) <br /> 5. The amount of any surplus or deficit revenues carried over from a previous year. <br /> 6. Contributions to be made from sources other than the assessments levied. <br /> The PDA annual assessment revenue is budgeted at $66,500, which is similar to the <br /> revenue generated in 2011. The assessment formula is based on the annual business <br /> license payment and is calculated as follows: <br /> • businesses located curbside and downstairs on Main Street are assessed at two <br /> times (2X) their business license; <br /> • businesses with a Main Street address located upstairs, or not curbside, are <br /> assessed at a rate of one and a half times (1'/=X) their business license; <br /> • all other businesses (those located off Main Street) pay an amount equal to one <br /> times (1X) their business license. <br /> Page 2 of 3 <br />