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BACKGROUND Chapter 3, Section 36530 of the Parking and Business Improvement Area Law of 1989 requires the City Council to do the following to levy the annual assessment for the PDA Business Improvement District: • Appoint an advisory board to prepare the annual budget with a report describing the improvements and activities of the downtown improvement district and the related funding sources. The report will outline any recommended changes to the boundaries of the district and/or the methodology of assessing each business; • Accept the report and budget and set a public hearing to levy the assessments; • Open and close the public hearing and adopt by resolution the assessments. DISCUSSION On October 15, 2013 the City Council appointed the members of the Advisory Board. The Advisory Board has since met and is recommending acceptance of the attached 2013 report and the proposed budget for the PDA assessments and other revenues for the 2014 calendar year. The attached report and budget contain the following required information: 1. Any proposed changes in the boundaries of the district. For 2014, there are no proposed boundary changes. 2. The improvements and activities to be funded during the calendar year, and an estimate of the cost of providing those improvements and activities. 3. The method of levying the assessment in sufficient detail to allow each business owner to estimate the amount to be levied against the business for the year. There are no proposed changes in the method of levying the assessment. Currently assessments are based on proximity to Main Street, with a minimum assessment of$50 and a maximum assessment of$350. 4. The amount of any surplus or deficit revenues carried over from a previous year. 5. Contributions to be made from sources other than the assessments levied. The PDA annual assessment revenue in 2014 is budgeted at $65,500, which remains the same as in 2013. The assessment formula is based on the annual business license payment and is calculated as follows: • businesses located curbside and downstairs on Main Street are assessed at two times (2X) their business license; • businesses with a Main Street address located upstairs, or not curbside, are assessed at a rate of one and a half times (1'/:X) their business license; • all other businesses (those located off Main Street) pay an amount equal to one times (1X) their business license. Page 2 of 3