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THE CITY OF ! .a' . ;e.. CITY COUNCIL AGENDA REPORT 5 pLEASANTON. December 20, 2016 Economic Development TITLE ACCEPT PLEASANTON DOWNTOWN BUSINESS IMPROVEMENT DISTRICT ADVISORY BOARD 2016 REPORT AND 2017 BUDGET AND ADOPT A RESOLUTION OF INTENT TO LEVY ASSESSMENT FOR 2017 SUMMARY The Pleasanton Downtown Association (PDA) Advisory Board 2016 report and budget for 2017 are attached The Advisory Board is recommending no modifications to the District boundaries and no change in the method of levying the assessment for 2017 It is proposed that the 2016 report and 2017 budget be accepted and approved and the assessment levy be heard at a January 17, 2017 public hearing by the City Council RECOMMENDATION Adopt a resolution accepting and approving the 2016 annual report and 2017 budget prepared by the Advisory Board and set the public hearing date for January 17, 2017 to levy the annual assessment FINANCIAL STATEMENT The current agreement between the District and the City requires the City to match the annual assessments paid by businesses in the District In 2016, the City match from the General Fund was approximately $66,500 Staff anticipates the 2017 match (if approved) will be budgeted at$68,000, slightly more than in 2016 which reflects increased economic activity as well as elimination of the new business exemption, this is included in the City's and the PDA's budgets In addition to the direct City contribution, the City adds approximately $66,000 in indirect funding which includes staff time to administer the PDA assessments and contract, assistance and support for events, as well as the cost to maintain downtown planters, cleaning sidewalks, and garbage pickup