TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
Steve S. Charelian, Finance Director
Libby Bretthauer, Financial Services Manager
SUBJECT:Title
Consideration of a Resolution Declaring Intention to Provide for Annual Levy and Collection of Assessments for the Downtown Business Improvement District and Setting a Public Hearing for July 16, 2024 (Finance Director Charelian).
A) ADOPT RESOLUTION NO. 24-0069
B) SCHEDULE PUBLIC HEARING DATE TO CONSIDER ASSESSMENTS ON JULY 16, 2024
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Recommended Action
RECOMMENDATION:
The Downtown Business Improvement District Advisory Board and City Staff recommend that the City Council adopt Resolution No. 24-0069 announcing the City's intention to set assessments for the Downtown Business Improvement District (BID) for fiscal year (FY) 2024-2025 and setting the public hearing for July 16, 2024.
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FISCAL IMPLICATIONS:
There are no budgetary or other financial implications associated with the adoption of the Resolution of Intention.
BACKGROUND:
In 1998, the City Council, at the request of the downtown business owners, dissolved an existing parking district and created a new Business Improvement District (BID) for the downtown area. The new district was created under the Parking and Business Improvement Area Law of 1989, which provides flexibility with respect to the use of funds. The previously existing parking district restricted the use of the funds to the acquisition and construction of parking facilities.
The Parking and Business Improvement Area Law of 1989 requires that the district and associated assessments be renewed annually. Therefore, the City Council will hold a public hearing at its meeting on July 16, 2024 to consider the request from the Downtown Business Improvement District Advisory Board to renew the district for Fiscal Year 2024-2025 and levy the associated assessment (80% surcharge on business lice...
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