TITLE
Recommendation to request City Manager to work with Economic Development and report to Council in 60 days on the sales tax receipts for the Broadway Corridor between Chestnut to Alamitos Avenues and Alamitos to Orizaba Avenues.
DISCUSSION
Broadway Corridor is a critical section of businesses for the City of Long Beach, from downtown to Orizaba Avenue. This corridor has experienced great changes in the past four years from new downtown developments to new small businesses east of Alamitos, as well as the public infrastructure through the entire corridor.
To assess the impacts of these changes, this item requests quarterly sales tax reports for the Broadway Corridor to be broken down inside the downtown plan (Chestnut to Alamitos) and east of the downtown plan (Alamitos to Orizaba) for the years of 2016-2019. Actual data disclosed will adhere to confidentiality requirements as specified by state law.
The report can be provided to the council through a memorandum from the City Manager in the next 60 days.
This matter was reviewed by Budget Manager Grace H. Yoon on March 6, 2020.
FISCAL IMPACT
This recommendation requests a report within 60 days on the sales tax receipts for the Broadway Corridor between Chestnut to Alamitos Avenues and Alamitos to Orizaba Avenues. The requested action is anticipated to require a moderate level of staff hours beyond the budgeted scope of duties and a moderate impact on City Council priorities.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
JEANNINE PEARCE
COUNCILMEMBER, SECOND DISTRICT