RES 08253 - Laserfiche WebLink

ATTACHMENT 2 • Continued to work, through the Parking Subcommittee, with property owners of different blocks to lay the groundwork for the creation of parking assessment districts. ^ Continued to grow the Associate Member program to over 170 members. ^ Assisted numerous downtown communities by providing tours artd information as well as sharing the success of the organization and the downtown. • Commends! for program achievements and recognized as both a California and Nationa12008 Main Street Community. BUDGET The 2009 budgeted assessment revenue and City matching funds are projected to be S 124,000. As such, there are no proposed changes to the assessment formula. In 2009, the City and the PDA enter into the final 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 37% of the total 2009 budgeted revenue and event revenue comprises 53% of the budgeted revenues. The Board believes it is prudent to maintain a reserve of $60,000 for 2009 due to: (1) the economic forecasts for the upcoming year; and (2) a significant portion of the budget is dependent on the success of events, which is contingent on weather. Additionally, the PDA has a total of S 123,429 in appropriated funds for 2009 (carried over :from 2008). This funding will provide for additional marketing, promotion of the Downtown Pleasanton Gift Card, membership education and capital improvement projects including murals, signage, downtown beautification and other key projects. The budget includes a fiill-time Executive Director, a fiill-time Event Coordinator and apart-time Administrative Assistant. insurance expense includes bonding, general liability, workers compensation, evenUliquor liability, and Employment Practices and Board of Director's Omissions and Errors coverage. For 2009, the PDA is proposing a total of 31 events, with seven street closure days (reserving the option to add up to three additional events). The proposed events are as follows: five First Wednesday Strut Parties (May, June, July, August and September); 14 Concerts in the Parkin Lions Wayside Park (June through early-September); two Antique Faires (May and October); two Wine Strolls (February and July); o~ Magical Holiday Evening (November); one Annual Meeting (January); two Sidewalk Sales, (April and October); three membership mixers (dates to be determined); one Breakfast with the Board (date to be determined) and co-sponsor of the 4°i of July Celebration as well as the Hometown Holiday Celebration in December.