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 the PBID will set the time and place for the Public Hearing on the formation of the District and the proposed assessment and authorize staff to mail notices to all property owners within the District.
Policy Considerations: The proceedings under which the PBID is proposed to be renewed are set forth in Sections 36600 et seq., of the California Streets and Highways Code, entitled “Property and Business Improvement District Law of 1994.”
Economic Impacts: None.
Environmental Considerations:
California Environmental Quality Act (CEQA): Formation or renewal of a PBID, in creating a funding mechanism for maintenance and other services, does not in itself constitute a project under CEQA and is therefore exempt from review pursuant to Guidelines Section 15378(b)(4).
Sustainability: Not applicable.
Commission/Committee Action: None.
Rationale for Recommendation: The actions in the recommended Resolution will allow the City to support the renewal of the PBID. PBID services will enhance economic development, maintenance and security services above what the City currently provides. This includes focused marketing, outreach, and other activities to convey a positive image, expand existing businesses and attract new businesses to the Stockton Boulevard commercial corridor resulting in increased economic activity and revenue.
The Stockton Boulevard Partnership Association (Association), the governing body of the PBID, serves as a key partner to the City’s economic development efforts, particularly in enhancing a clean and safe environment while providing increased marketing for new business development. In addition, the Association has the potential to serve as a critical partner in identifying both business needs and opportunities, as the Association will in many instances become the first entity to be contacted by local businesses.
Financial Considerations: Financing is provided by the levy of assessments upon properties that benefit from improvements and services. There are 277 assessed parcels in the PBID service area. The total PBID assessment budget for FY2021/22 will be approximately $409,837. If the PBID is renewed, the City will continue to participate as property owners. City-owned property will have a total first year annual assessment of approximately $6,212. Funding for the City’s property assessment will be supported by the City’s general fund account, not the PBID. Future assessment rates may be subject to an increase of no more than three percent (3%) annually and based on the actual annual increase in costs.
Local Business Enterprise (LBE): Not applicable.