Title:
Title
Resolution of Intention to Renew and Expand the Stockton Boulevard Property and Business Improvement District No. 2020-01
End
FileID
File ID: 2020-00403
Location
Location: Districts 5 and 6
End
Recommendation:
Recommendation
Adopt a Resolution of Intention to renew and expand the Stockton Boulevard Property and Business Improvement District (PBID) No. 2020-01 and set the time and place of a Public Hearing for August 18, 2020.
FileName
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-Schedule of Proceedings
3-Resolution of Intention
4-Exhibit A, District Map
5-Exhibit B, Budget & Parcel Assessment
6-Exhibit C, Management District Plan
Description/Analysis
Issue Detail: Initially formed in 2002, the Stockton Boulevard Property and Business Improvement District (PBID) has since renewed twice in 2007 and 2012. The PBID is a benefit assessment district intended to continue to improve the Stockton Boulevard commercial corridor. The property owners have proposed a third renewal of the PBID for a new ten-year term which also includes an expansion of the PBID boundaries. The existing PBID term has yet to expire and is valid until December 31, 2021. However, the PBID is renewing a year early and is expanding its boundaries to include additional property owners seeking PBID services effective January 1, 2022.
The total PBID assessment budget for fiscal year FY2021/22 will be approximately $409,837. There are 277 properties in the PBID service area. The City currently owns eight parcels within the PBID and will benefit from the PBID services. The PBID provides a higher level of maintenance and security services, advocacy, and image enhancement programs than is typical to promote the area as a desirable place to live, work, and do business.
Approval of the Resolution of Intention to renew...
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