TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
George Gabriel, Assistant to the City Manager
SUBJECT:Title
Consideration of a Resolution Approving an Agreement with the Chamber of Commerce in the Amount of $67,300 for North Manhattan Beach Business Improvement District Management and Executive Coordination Services Until a Non-Profit Corporation is Established (City Manager Moe).
(Estimated Time: 15 Mins.)
A) ADOPT RESOLUTION NO. 24-0080
B) APPROPRIATE FUNDS
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council:
1. Adopt Resolution No. 24-0080 approving a pilot agreement with the Chamber of Commerce in the amount of $67,300 for North Manhattan Beach Business Improvement District (NMB BID) management and executive coordination services until a non-profit corporation is established.
2. Appropriate $67,300 from the NMB BID's balance within the Parking Fund and adjust corresponding revenues.
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FISCAL IMPLICATIONS:
The North Manhattan Beach Business Improvement District is funded through an 80% surcharge to the business license tax paid by those businesses located within the district, not to exceed $500 annually. At the current rate, the assessments total approximately $25,000 per year and are held separately within the Parking Fund. Should the City Council authorize the expenditures for this pilot agreement, an appropriation of $67,300 is required from the Parking Fund. Budgeted revenues will be adjusted by the same amount, corresponding to a deduction from the NMB BID's assessment balance.
BACKGROUND:
In January 2004, the City Council dissolved the North End Business Improvement District, which was formed in 1969 under the State's Parking and Business Improvement District Act of 1965. The BID was limited in scope and was mainly responsible for addressing parking acquisition and construction. Because opportunity for acquirin...
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