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Despite the many challenges 2020 has presented, we continue to expand our marketing outreach, engage with the community and create a positive downtown experience, focus on storytelling about our brand so that we can highlight the uniqueness of our businesses. Our continued partnership and consistent working relationship with the City of Pleasanton has been vital in this challenging season in keeping our downtown the vibrant heart of our wonderful city as shared in the attached 2020 highlights. 2021 BUDGET The 2021 budgeted assessment revenue and City matching funds are projected to be $130,000. This amount is reduced from 2020 in anticipation of a decrease in downtown BID assessment fees which are based on business license fees paid on reported gross receipts; the assessment revenues are estimated to be $65,000, with a City match of$65,000. The minimum assessment is $50 and the maximum is$350. Non- profit businesses do not pay an assessment to the PDA.There are no proposed changes to the assessment formula at this time. In November 2019, the City and the PDA entered into a five-year agreement, whereby the City agrees to match the annual assessment revenue generated by the businesses within the downtown district. Under normal circumstances the annual assessment and City matching funds represent approximately 30% of the total proposed budget, and event revenues comprise over 50%of the budgeted revenues (does not include reserves & appropriated funds). The remaining funds come from corporate sponsorship and Farmers' Market income. The PDA holds the operating contract with Pacific Coast Farmers Market Association, and we oversee the weekly market operations and marketing. The proposed budget for 2021 (attached) is provisional as we are uncertain currently the status of in-person events. Our hope is to resume fundraising events by spring 2021 and we are prepared to make necessary adaptations to abide by County guidelines. The provisional 2021 budget includes a full-time Executive Director, a full-time Events& Marketing Manager 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. In 2020 we adjusted our staffing to reduce expenses in an effort to continue operating with a greatly reduced income due to event cancelations. Our goal is to resume our staffing in 2021 upon the return of fundraising events; this will largely depend on our event status and should event restrictions continue we will adjust accordingly. In October, City Council approved the PDA rent to the City of Pleasanton deferral through December 2021. This will greatly aide in our organization's financial recovery throughout 2021.