TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Libby Bretthauer, Finance Director
Emy- Rose Hanna, Financial Services Manager
Toni Page, Revenue Services Supervisor
SUBJECT:Title
Consideration of an Update to the Longstanding Local Business Award Program (Budgeted) (Finance Director Bretthauer).
(Estimated Time: 30 Mins.)
DISCUSS AND PROVIDE DIRECTION
Body
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RECOMMENDATION:
Staff recommends that the City Council discuss and provide direction regarding the Longstanding Local Business Award Program.
FISCAL IMPLICATIONS:
The Finance Department budget for the Longstanding Local Business Award Program has steadily increased over time to support the program's expansion. Rising supply costs, inflation and an increasing number of qualifying businesses have significantly increased the program's costs and staff workload. As illustrated in the table below, supply costs for the Award Program have risen steadily from FY 2020-21 through the current year budget estimate.
Year Supply Costs % Increase
FY 2018-19 $1,387 -
FY 2019-20 $1,304 -6%
FY 2020-21 $1,677 29%
FY 2021-22 $1,868 11%*
FY 2022-23 $2,183 17%
FY 2023-24 $2,670 22%
FY 2024-25 $3,214 20%
FY 2025-26** $4,000 24%
* In September of 2021, the City expanded the Award milestones.
** FY 2025-26 costs are based on the available budget.
BACKGROUND:
The Longstanding Local Business Award Program was established by the City Council to recognize and congratulate longstanding businesses for 10, 20 and 40 years that continuously maintained a commercially-zoned premise providing services to our community for many years.
On May 1, 2018, the City Council updated the Program to five incremental milestones recognizing 10, 25, 30, 40, and 50 years of continuous service.
On September 9, 2021, the City Council directed staff to expand the Program by including milestones ...
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