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guests &visitors to Downtown and introduce them to all that we have to offer. They also serve as key fundraisers for the PDA. We are also once again hosting two beloved Children's Events, with Bunny Hop successfully welcoming 1200+ children in April and Pumpkins on Main being planned for October. We have plans to bring Bubbles & Bacon back in February 2024 and are looking at other event opportunities. Despite the many challenges 2023 has presented we continue to expand our marketing outreach, engage with the community, and create a positive downtown experience. We are excited for all that is to come! To this end, the PDA Board of Directors is intensely focused on the development of executable goals and priorities for 2024. The Board and Staff strongly feel it is time to return to proactive leadership in Downtown after being forced into a reactionary role during the pandemic and the recovery period. Long-term organizational stability for the PDA, economic development and vitality will be in the forefront of these goals. In the coming months the PDA Board will work with the Interim Executive Director to craft specific goals for the coming year, and we look forward to sharing those with the City Council and City Staff soon. 2024 BUDGET The 2024 budgeted assessment revenue and City matching funds are projected to be $160,000. There are no proposed changes to the assessment formula. 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. The 2024 budget includes full-time Executive Director, full-time Events Director, and three- quarters time Office & Membership Manager. In October 2020, City Council approved the PDA rent to the City of Pleasanton deferral through December 2021 and in October 2021, an extension through December 2022. The PDA began paying rent payments and payback of the deferred rent beginning in January of 2023. The PDA continues to be extremely event-dependent for ongoing operational funding. As Covid has proven, this creates a precarious and unsustainable financial situation for the organization. It is a primary goal of the PDA to work closely with the City of Pleasanton in the coming months to begin the process of reevaluating, and ultimately restructuring, the Business Improvement District to better serve the businesses of Downtown for many years to come. We are very pleased that this has been identified as a priority for the City of Pleasanton and we look forward to working closely with the City Council and staff as this process moves forward in the coming year. Challenges will always exist, but we are confident in the direction of our organization and look forward to making 2024 a banner year for Downtown Pleasanton. It truly is the jewel of our community, and we are excited to return Downtown to its full shine.