TO:
Honorable Mayor and Members of the City Council
THROUGH:
Mark Danaj, City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Renewal of Downtown Business Improvement District for Fiscal Year 2014-2015 Including Authorization to Collect Assessments; Ratification of the District Advisory Board; Authorization to Enter Into an Agreement with the Downtown Manhattan Beach Business and Professional Association; and Authorization to Disburse Fiscal Year 2013-2014 Assessments Collected (Finance Director Moe).
CONDUCT PUBLIC HEARING; ADOPT RESOLUTION NO. 14-0035; RATIFY BOARD; APPROVE
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Recommended Action
RECOMMENDATION:
The Downtown Business Improvement District Advisory Board and City staff recommend that the City Council: a) conduct a public hearing; b) adopt Resolution No. 14-0035 authorizing the collection of assessments; c) ratify the nominees for the fiscal year 2014-2015 Downtown Business Improvement District (BID) Advisory Board; d) authorize the City Manager and Business Improvement District Advisory Board Chairperson to enter into an agreement with the Downtown Manhattan Beach Business & Professional Association to provide services to the Business Improvement District; and e) authorize the disbursement of all assessments collected for FY2013-2014 (approximately $107,206).
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FISCAL IMPLICATIONS:
The Downtown Business Improvement District is funded through an 80% surcharge on the business license tax to a maximum of $600. Since the business license and Business Improvement District surcharge is not collected until April/May of any given year, the Business Improvement District is funded by assessments generated during the previous fiscal year. The Business Improvement District assessments from FY2013-2014 to be disbursed currently total $107,205.87).
The total FY2014-2015 operating budget for the Downtown Business Improvement District projects revenues o...
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