TITLE
Recommendation to adopt resolution approving the Annual Assessment Report for October 1, 2010 to September 30, 2011, for the Belmont Shore Parking and Business Improvement Area, declaring its intention to levy the annual assessment and setting a date for a public hearing for Tuesday, October 5, 2010 at 5:00 p.m. (District 3)
DISCUSSION
The Belmont Shore Business Association (BSBA) 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 Areas require the submission of an annual assessment report by the Advisory Commission designated for this Assessment District. On May 20, 2010, the BSPBIA Advisory Commission voted to recommend to City Council approval of the BSPBIA Annual Report (attached).
The Assessment Report describes boundaries, proposed activities and budgetary information, as well as the method and basis for continuation of the assessment. The Assessment 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 October 5, 2010.
This letter was reviewed by Deputy City Attorney Heather Mahood on August 18, 2010, City Treasurer David Nakamoto and Budget Management Officer Victoria Bell on August 18, 2010.
TIMING CONSIDERATIONS
City Council action is requested on September 7, 2010 to allow purchase order and contract modifications to be completed so that Fiscal Year 2011 (FY 11) assessment transfers may be made as required by the Agreement for Funding with the BSBA.
FISCAL IMPACT
It is expected that the BSPBIA will generate $136,000 in Fiscal Year 2011 (FY 11) through t...
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