TITLE
Recommendation to adopt resolution approving the Annual Assessment Report for October 1, 2005 to September 30, 2006, for the Belmont Shore Parking and Business Improvement Area, declaring its intention to levy the annual assessment; and set the date of hearing for Tuesday, September 6, 2005. (District 3)
DISCUSSION
The Belmont Shore Business Association promotes and markets the commercial area along Second Street using funds generated through the assessment of businesses located in the Belmont Shore Parking and Business Improvement Area (BSPBIA).
State law governing Parking and Business Improvement Areaa require the submission of an annual assessment report by the Advisory Commission designated for this Assessment District. On June 16, 2005, the BSPBIA Advisory Commission voted to recommend to City Council approval of the BSPBIA Assessment Report (Attachment A).
The Assessment Report describes 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 basis and method of levying the assessment and no significant change in 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 the public hearing for September 6, 2005.
This letter was reviewed by Assistant City Attorney Heather Mahood on July 12, 2005, Budget Management Officer David Wodynski on July 28, 2005 and the City Treasurer's Office on July 28, 2005.
TIMING CONSIDERATIONS
[Timing Considerations]
FISCAL IMPACT
There is no fiscal impact from this action. It is expected that the BSPBIA will generate $87,500 in Fiscal Year 2006 (FY 06) through the proposed continuation of the existing assessment. Assessment funds are additional fees attached to BSPBIA business licenses. The $87,500 is included in the FY 06 Proposed Budget in the Par...
Click here for full text