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2024 Budget <br /> The 2024 PDA budget includes a full-time executive director, full-time events director, <br /> and a three-quarter time office and membership manager to facilitate a year-round <br /> calendar of events as well as outreach throughout the year. <br /> The PDA budget includes events planned during the year, which are projected to <br /> generate approximately 55 percent of the total 2024 revenue for the PDA. The <br /> scheduled events and special promotions include Concerts in the Park, Halloween and <br /> St. Patrick's Day Brew Crawls, Summer Wine Stroll, Forkful, Bubbles & Bacon, First <br /> Weekends on Main, and Holiday Spirit Stroll. City staff will meet with the PDA Executive <br /> Director and Executive Committee at the beginning and end of the fiscal year, with <br /> additional meetings as necessary, to ensure funding is spent as authorized by the terms <br /> of the agreement. A full financial audit will be required in preparation for developing and <br /> executing a new agreement in 2024. <br /> On October 20, 2020, the City Council approved a temporary deferral of rent payments <br /> for one year for the PDA's use of the City-owned building at 333 Division Street in <br /> downtown Pleasanton. The temporary deferral was due to the reduced revenue from <br /> temporary restrictions due to the COVID-19 pandemic. On October 19, 2021, the City <br /> Council approved an extension of the temporary deferral of rent payments for an <br /> additional 14 months through December 2022, after which PDA was to begin paying the <br /> deferred amount of$27,580.34, which includes a Consumer Price Index (CPI) <br /> adjustment, over 26 months. The 2024 budget reflects a total monthly rent payment of <br /> $1,450.81, which includes both the deferred monthly payment of$383.06 in addition to <br /> the regular monthly rent payment of$1,067.75. <br /> Intent to Levy BID assessment for 2024 <br /> Adoption of the resolution included as Attachment 2 will accept the Downtown <br /> Pleasanton BID Advisory Board 2023 Annual Report and 2024 PDA Budget and set <br /> November 7, 2023, as the date of the public hearing to levy the BID assessment for <br /> 2024. <br /> Submitted by: Fiscal Review: Approved by: <br /> Lisa Adamos Susan Hsieh Gerry Beaudin <br /> Economic Development Manager Director of Finance City Manager <br /> Attachments: <br /> 1. 2023 Annual Report and 2024 Budget <br /> 2. Resolution <br /> Page 4 of 4 <br />