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THE CITY OF .~. ~ pL~E~S~4NTONo CITY COUNCIL AGENDA REPORT 1 December 18, 2007 Finance Department TITLE: PLEASANTON DOWNTOWN BUSINESS IMPROVEMENT DISTRICT ADVISORY BOARD REPORT AND BUDGET AND LEVY OF THE ASSESSMENT FOR 2008 SUMMARY The Pleasanton Downtown Association ("PDA") Advisory Board report and budget for 2008 are attached. The Advisory Board is not recommending any modifications to the district boundaries or to the method of levying the assessment for 2008. Adoption of the report and budget will cause the levy of the assessment for 2008. RECOMMENDATION Staff recommends that the Council approve the Resolution (Attachment 1) accepting and approving the report and annual budget of the Pleasanton Downtown Association advisory board and levying the annual assessment for 2008. FINANCIAL STATEMENT The Pleasanton Downtown Business Improvement District assessment revenue is estimated at $62,000. In accordance with an agreement between the City and the PDA, the City agrees to provide annual matching funds equal to the annual assessment. As a result, the City grant for 2008 will be $62,000. In addition to this amount, the City General Fund contributes approximately $75,000 in direct and indirect funding for holiday lights, seasonal banners and the Hometown Holiday Celebration. Additional indirect funding of approximately $45,000 includes City staff hours to collect and administer the PDA assessment, as well as the cost to maintain downtown planters, cleaning sidewalks, garbage pickup, and staff time for special events.