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The PDA budget includes a full-time Executive Director, a part-time Office Manager, and a full-time Events & Communications Manager to facilitate PDA events as well as outreach throughout the year. At the November 3, 2009, City Council meeting, the City and the PDA renewed a five- year funding contract whereby the City contributes funds to match the annual assessment revenue. This $131,000 combined assessment revenue and City match is projected to account for approximately 31% of the total 2015 funding sources. The current agreement terminates on November 3, 2014; as such, a new agreement will be presented to the City Council at a public hearing during its October 21, 2014 meeting. Events planned by PDA during the year are projected to generate approximately 53% of the total 2015 revenue for the PDA. The forty-one scheduled events (the same number of events as in 2014), include: five First Wednesday Street Parties (May, June, July, August and September); thirteen Concerts in the Park in Lions Wayside Park (June through August); two Antique Fairs (May and October); one Wine Stroll (June); one Installation Mixer (January); one Annual Meeting (April); one Board Retreat (mid-year); three membership mixers (April, June or July and October), two Brew Crawls (March and October), nine Sizzling Saturdays (every Saturday in August and September), one Downtown Magical Holiday Evening (November); one Holiday Spirit Stroll (November) and one new community event being planned for late summer or early fall. These planned events will require street closures to occur in the Downtown area on seven days, specifically for the First Wednesday Street Parties and Antique Fairs. Submitted by: Approved by: I/ r P ela Ott Emily E. Wagner Nelson Fialho Economic Development Director of Finance City Manager Director Attachments: 1. Resolution 2. Report to City Council —2014 Annual Review and 2015 Budget Page 3 of 3