TO:
Honorable Mayor and Members of the City Council
THROUGH:
John Jalili, Interim City Manager
FROM:
Bruce Moe, Finance Director
Steve S. Charelian, Revenue Services Manager
SUBJECT:Title
Renewal of the North Manhattan Beach Business Improvement District and Approval of Assessments for Fiscal Year 2014-2015 (Finance Director Moe).
a) CONDUCT PUBLIC HEARING
b) ADOPT RESOLUTION NO. 14-0006
c) RATIFY 2014 BUSINESS IMPROVEMENT DISTRICT ADVISORY BOARD MEMBERS
Line
_________________________________________________________
Recommended Action
RECOMMENDATION:
Staff Recommends that the City Council:
a) Conduct a Public Hearing;
b) Adopt Resolution No. 14-0006 renewing the district and providing for the collection of assessments for the North Manhattan Beach Business Improvement District (NMB-BID); and
c) Ratify the Business Improvement District Advisory Board Members for 2014.
Body
FISCAL IMPLICATIONS:
The North Manhattan Beach Business Improvement District is funded through an 80% surcharge on the business license tax to a maximum of $500 per year. Collections for the fiscal year are estimated to be $23,000. North Manhattan Beach Business Improvement District reserves total $520,514 including $152,373 remaining for a capital project for beautification originally budgeted in fiscal year 2006-2007 (total project cost of $370,000). Those funds have been carried forward into fiscal year 2013-2014.
BACKGROUND:
In January 2004, the City Council dissolved the existing North End Business Improvement District formed in 1969 under the State's Parking and Business Improvement District Law of 1965. The BID was fairly limited in scope and was mainly designed to address parking acquisition and construction. Because opportunity for the acquisition of parking in the North End is limited, the businesses being assessed wanted to use the funds for other types of activities, such as physical improvements, signage, marketing, and promotions to nam...
Click here for full text