TITLE
Recommendation to adopt resolution approving the Annual Assessment Report from October 1, 2011 to September 30, 2012, for the Bixby Knolls Parking and Business Improvement Area, declaring its intention to levy the annual assessment, and set date of public hearing for Tuesday, October 11, 2011 at 5:00 p.m. (Districts 7,8)
DISCUSSION
The Bixby Knolls Business Improvement Association promotes and markets the Bixby Knolls commercial area, using funds generated through the assessment of area businesses located in the Bixby Knolls Parking and Business Improvement Area (BKPBIA). State law governing Parking and Business Improvement Areas require that an annual assessment report be submitted to the City Council by the Advisory Commission designated for the Assessment District. At its July 28, 2011 meeting, the BKPBIA Advisory Board voted to adopt the attached Fiscal Year 2011 BKPBIA Assessment Report.
The Assessment Report describes the boundaries, proposed activities and budgetary information, as well as the method and basis for continuation of the assessment. The report proposes no change in the method of levying the assessment and no significant changes to proposed activities.
The recommended Resolution of Intention grants approval of the assessment report, declares the intention of the City Council to levy the assessment for proposed activities and sets the date of a public hearing for October 11, 2011.
This letter was reviewed by Chief Assistant City Attorney Heather Mahood on August 4, 2011, and Budget Management Officer Victoria Bell on August 10, 2011.
TIMING CONSIDERATIONS
The BKBIA contract year begins October 1, 2011. City Council action is requested following public hearing on October 11, 2011 to allow purchase order and contract modifications to be completed so that Fiscal Year 2012 (FY 12) assessment transfers may be made as required by the Agreement for Funding with the BKBIA.
FISCAL IMPACT
It is estimated that the BKPBIA will genera...
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