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5 <br />THE CITY OF <br />- ~ -~- CITY COUNCIL AGENDA REPORT <br />j~L£~AS~4NTONo <br />December 4, 2007 <br />Finance Department <br />TITLE: PLEASANTON DOWNTOWN BUSINESS IMPROVEMENT DISTRICT <br />ADVISORY BOARD REPORT AND BUDGET AND INTENT TO LEVY <br />THE ASSESSMENT FOR 2008 <br />SUMMARY <br />The Pleasanton Downtown Association ("PDA") Advisory Board report and budget for <br />2008 are attached. The Advisory Board is not recommending any modifications to the <br />district boundaries or to the method of levying the assessment for 2008. The budget and <br />the assessment levy will be set for a December 18, 2007 public hearing. <br />RECOMMENDATION <br />Staff recommends that the Council accept the annual report and 2008 budget prepared <br />by the PDA Advisory Board and set a public hearing date for December 18, 2007 to levy <br />the annual assessment. <br />FINANCIAL STATEMENT <br />The Pleasanton Downtown Business Improvement District assessment revenue for <br />2008 is estimated at $62,000. In accordance with an agreement between the City and <br />the PDA, the City agrees to provide an annual match grant equal to the annual <br />assessment. As a result, the City grant for 2008 will be $62,000. In addition to this <br />amount, the City General Fund contributes approximately $75,000 in direct and indirect <br />funding for holiday lights, seasonal banners and the Hometown Holiday Celebration. <br />Additional indirect funding of approximately $45,000 includes City staff hours to collect <br />and administer the PDA assessment, as well as the cost to maintain downtown planters, <br />cleaning sidewalks, garbage pickup, and staff time for special events. <br />