TITLE
Recommendation to adopt Resolution of Intention to form the Fourth Street Parking and Business Improvement Area; set date of hearing for September 11, 2007, at 5:00 p.m.; designate the Advisory Board; authorize City Manager to initiate majority protest proceedings; and authorize City Clerk to receive written protests. (District 2)
DISCUSSION
Businesses along Fourth Street between Cherry and Carroll Park East have petitioned the City for creation of a business improvement district. The proposed Fourth Street Parking and Business Improvement Area (FSPBIA) will be made up of business licensees within the proposed boundaries.
The Fourth Street Parking and Business Improvement Area Initial Assessment Report and Proposed Service Plan (Assessment Report) details the amount and method of assessment for each business, the FSPBIA boundaries, and improvements for which the funds will be used. The Assessment Report is provided as an exhibit to the Resolution of Intention (attached).
The Fourth Street Improvement Association (FSIA) is an organization of business owners in the area. Through the organization, the business community has implemented programs to increase the attractiveness of the area, promote their unique products and services, reduce crime, and improve the economic vitality of area businesses. Business owners totaling more than 59 percent of the proposed assessment have signed petitions in support of the district and related assessment.
The Assessment Report describes boundaries, proposed activities and budgetary information, as well as the method and basis for the assessment. The assessment methodology will result in FY 2008 revenue of $10,800.
The Parking and Business Improvement Area Law of 1989 of the California Streets and Highways Code allows the creation of a Business Improvement Area, allowing business owners to voluntarily levy an assessment upon themselves to provide for improvements and or activities.
USE OF FUNDS
FSPBIA funds are to b...
Click here for full text