Title:
Title
Fiscal Year (FY) 2019/20 Central Midtown Restaurant Business Improvement District Annual Proceedings
End
FileID
File ID: 2019-00092
Location
Location: District 4
Recommendation:
Recommendation
Adopt a Resolution approving the Central Midtown Restaurant Business Improvement District Annual Report for FY2019/20.
Contact: Sini Makasini, Administrative Analyst, (916) 808-7967; Sheri Smith, Special Districts Manager, (916) 808-7204, Department of Finance
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Resolution
3-Exhibit A District Map
4-Exhibit B District Budget Estimates & Business Assessment
Description/Analysis
Issue Detail: On June 20, 2017, City Council approved the formation of the Central Midtown Restaurant Business Improvement District (BID) for a five-year term (Resolution No. 2017-0255) to provide safety and lighting programs, marketing and advertising and other services to increase restaurant sales within the BID. The BID was formed under the Property and Business Improvement Law of 1994, which requires that an Annual Report (Report) be filed with the City Clerk for City Council approval.
The Midtown Central Advisory Committee has prepared the FY2019/20 Report which is on file with the Finance Department Public Improvement Finance Division, designated by the City Clerk as the custodian of such records. The Report addresses the estimated budget, assessment, and services to be provided. The Report does not change the District boundaries, scope of services, the assessment rate, or any other aspect of the BID’s legal structure as established in the Management District Plan.
Policy Considerations: Approval of the attached Resolution will approve the required annual report for the BID addressing the services the BID provides including lighting and safety improvements as well as special events and advertising for FY2019/20.
Economic Impacts: None.
Environmental Considerations:
California Environmental Quality Act (CEQA): This report concerns administrative activities and governmental fiscal activities that do not constitute a “project” as defined by the CEQA Guidelines Sections 15378(b)(2) and (5) and are not subject to the provisions of CEQA (CEQA Guidelines Section 15060(c)(3)).
Sustainability: Not applicable.
Commission/Committee Action: None.
Rationale for Recommendation: The actions in the recommended resolution are required by the California Streets and Highways Code Part 7, (beginning with Section 36600) of Division 18.
Financial Considerations: Financing is provided by the levy of assessments upon businesses that benefit from the improvements and services. The BID does not plan to issue bonds. The operating budget for the BID fluctuates with market conditions and retail sales and is adjusted annually to reflect Council approved assessments and expenditure plans.
Based on the collected levies from the previous two years, the total BID assessment budget is estimated to be $96,000. Budget details are provided in the Exhibit B to the Resolution. The BID is self-supporting and has no impact on the General Fund.
Local Business Enterprise (LBE): Not applicable.