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partnership with the Tri-Valley Convention and Visitors Bureau, the Pleasanton and Livermore Chambers of Commerce, and the Tri-Valley Business Council. ^ Provided opportunities for membership feedback at the annual Breakfast with the Board meeting held July 10~' at the Pleasanton Hotel. ^ The PDA formed a new Ambassadors Committee. These volunteer "block captains" serve as liaisons providing a conduit for information, to and from, the membership. ^ Members of The Economic Vitality Committee served on the City's taskforce to review and improve the development services process. ^ The Parking Sub-committee, charged with finding ways to improve parking, continues to work with property owners of different blocks to lay the groundwork for the creation of parking assessment districts. ^ The Executive Committee reviewed and revised the organizational By-Laws. The amended By- Laws were approved by the Board of Directors in May of this year. ^ Each year, the PDA hosts representatives from numerous California communities providing tours and information as well as sharing the success of our organization and our downtown. In addition, this year we were honored to host a delegation from the Urban Renewal Coordinators Association of Japan. Who had chosen our community to visit after viewing our website. ^ The Associate Member program, offered to Tri-Valley businesses not located in the downtown district, continued to grow with over 150 members. ^ The PDA Annual Meeting was held at the Pleasanton Hotel on January 25, 2007. This year we installed the new Board members, recognized outgoing directors of the Board and awarded our third annual PDA Arch Angel Award for Outstanding Volunteer to recipient Alexis Gass. ^ The PDA was commended for program achievements and recognized as both a California and National 2007 Main Street Community. ^ A number of downtown businesses and the District were recognized with "2007 Best o£ .." awards by Diablo Magazine, the Pleasanton Weekly and the Tri-Valley Herald. BUDGET The assessment revenue and City matching funds budget items for 2008 are projected to be $124,000. As such, there are no proposed changes to the assessment formula. In 2008 the City and the PDA enter into the fourth year of our five-year agreement, whereby the City agrees to match the annual assessment revenue generated by the businesses within the downtown district. The annual assessment and City matching funds represent approximately 24% of the tota12008 budget and event revenue comprising 38% of the budgeted revenues (including reserves and appropriated funds). A significant portion of the budget is dependent on the success of events which is contingent on weather. The Board believes it is prudent to maintain a reserve of $60,000 for 2008. Additionally, we have a total of $108,066 in appropriated funds for 2008. This funding will provide for additional marketing, promotion of a Downtown Gift Card program, membership education and capital improvement projects including murals, signage, downtown beautification and other key projects. The budget includes afull-time Executive Director, afull-time Event Coordinator and apart-time Administrative Assistant. Insurance includes bonding, general liability, workers compensation, event/liquor liability, Employment Practices and Board of Director's Omissions and Errors coverage. For 2008, the PDA is proposing a total of 31 events, with eight street closure days (reserving the option to add 1-2 additional events). The proposed events are as follows: (5) First Wednesday Street Parties (May, June, July, August and September); (13) Concerts in the Park in Lions Wayside Park (June through early-September); (2) Antique Faires (May and October); (2) Wine Strolls (February and July); (1) Pleasanton Art & Heritage Days Festival (September); (1) Hops & Vines Fall Fest, (October); (1) Downtown Magical Holiday Evening (November); (1) Annual Meeting (January); (2) Sidewalk Sales, (April and October); (3) membership mixers (dates to be determined) and co-sponsor of the 4~' of July Celebration as well as the Hometown Holiday Celebration in December.