Laserfiche WebLink
Page 2 of 4 <br />(1X) their business license. <br />The minimum assessment is $50 and the maximum is $350. Non-profit businesses within the <br />district are not assessed. For 2025, there are no proposed boundary changes or proposed <br />changes in the method of levying the assessment. <br /> <br />Under the current agreement between the PDA and the City, the City is required to match the <br />annual BID assessment, estimated at an additional $80,000. The full amount of the City's <br />matching funds will be considered based on future financial constraints. An updated <br />agreement will be presented for the City Council's consideration in early 2025 in alignment with <br />the Property-based Business Improvement District (PBID) feasibility study results. <br /> <br />In the interim, the PDA provided a provisional budget which considers potential budget <br />reductions, including the possibility of no City match of assessments, which would result in a <br />PDA budget reduction of $80,000. This scenario would necessitate the elimination of one <br />position, a savings of $61,000, plus additional reductions totaling $16,850. The PDA budget <br />includes events planned during the year, which are projected to generate approximately 62 <br />percent of the total 2025 revenue, up from 55 percent last year. Remaining income from the <br />BID assessments, farmer’s market, corporate sponsors and miscellaneous sources generate <br />the remaining 38 percent of the total 2025 revenue. <br /> <br />DISCUSSION <br />Per Chapter 3, Section 36530 of the Parking and Business Improvement Area Law of 1989, <br />the City Council must complete the following three steps to levy the annual assessment for the <br />Downtown Pleasanton BID: <br />1. Appoint an advisory board to prepare the annual budget with a report describing the <br />programs and activities of the downtown business improvement district and the related <br />funding sources (completed on August 20, 2024); <br />2. Accept the annual report and budget and set a public hearing to levy the assessments <br />(completed on October 15, 2024); and <br />3. Open and close a public hearing and adopt by resolution the assessments (to be <br />completed on November 19, 2024). <br /> <br />As the first two steps in the process have been completed, the final step is to hold a public <br />hearing to hear any protest to the levy of the Downtown Pleasanton Business Improvement <br />District assessment for 2025 and to adopt a resolution levying the Downtown Pleasanton <br />Business Improvement District assessment for 2025 (Exhibit A). <br /> <br />Next Steps with Property-based Business Improvement District (PBID) Evaluation <br />For numerous years, it has become apparent that the funding generated through the current <br />annual BID assessment – approximately $80,000, which the City has historically matched – <br />does not provide sufficient revenue to support the PDA in meeting the PDA’s and City’s shared <br />expectations to augment the vitality and economic health of the downtown district through the <br />implementation of contemporary activities and best practices. A restructure of the BID <br />assessment has been a priority of the PDA and was included in the previous City Council <br />Priorities annual work plan. <br /> <br />Page 20 of 658