SR 06:286 - Laserfiche WebLink

The attached report (Exhibit A) contains the following required information: 1. Any proposed changes in the boundaries of the district. (For 2007 there are no proposed boundary changes.) 2. The improvements and activities to be provided for the year. 3. An estimate of the cost of providing the improvements and activities. 4. The method of levying the assessment in sufficient detail to allow each business owner to estimate the amount to be levied against the business for the year. (The method of levying the assessment is unchanged from the prior years. It employs a tiered structure based on proximity to Main Street, with a minimum of$50 and a maximum of$350.) 5. The amount of any surplus or deficit revenues carried over from a previous year. 6. Contributions to be made from sources other than the assessments levied. DISCUSSION Attached are the Advisory Board's 2007 report and the proposed budget for the PDA assessments and other sources of funding for the year. The PDA annual assessment revenue is budgeted at $60,000, slightly less than the revenue generated in 2006. The assessment formula is based on the annual business license payment: businesses located curbside and downstairs on Main Street are assessed at two times (2X) their business license; businesses with a Main Street address located upstairs, or not curbside, are assessed at a rate of one and a half times (1 and 1/2X) their business license; all other businesses (those located off Main Street) pay an amount equal to (l X) their business license. The minimum assessment is $50 and the maximum is $350. Non-profit businesses within the downtown are not assessed. The City and the PDA have a five-year funding contract, whereby the City contributes funds to match the annual assessment revenue. This $120,000 combined assessment revenue and the City match is projected to account for approximately 25% of the total 2007 sources of funding. The budget includes a full-time Executive Director, a part-time Office Manager and a full-time Events Coordinator to facilitate events throughout the year, including the First Wednesday Street Parties. Events planned during the year are projected to account for approximately 37% of the total 2007 sources of funding. The scheduled events include: four (4) I sl Wednesday Street Parties, May through September, excluding July; fifteen (15) Friday Concerts in the Park, June through early September; two (2) Antique Faires, May and October; two (2) Wine Strolls, February and July; Pleasanton Art & Heritage Days Festival, September; Downtown's Magical Holiday Evening, November; an Annual Meeting, January; Breakfast with the Board, July; three (3) membership SR 06:286