TITLE
Recommendation to adopt resolution approving the Annual Report for October 1, 2017 to September 30, 2018, for the Bixby Knolls Parking and Business Improvement Area, declaring its intention to levy the annual assessment, and setting the date of hearing for October 3, 2017. (District 7,8)
DISCUSSION
The Bixby Knolls Business Improvement Association (BKBIA) promotes and markets the commercial area along Atlantic Avenue and Long Beach Boulevard using funds generated through the assessment of businesses located in the Bixby Knolls Parking and Business Improvement Area (BKPBIA). State law governing Parking and Business Improvement Areas requires that an Annual Report be submitted to the City Council by the Advisory Board designated for this Assessment District.
On August 8, 2017, the BKBIA Advisory Board voted to recommend to the City Council approval of the BKPBIA Annual Report (Exhibit A to Resolution). The Annual Report describes boundaries, proposed activities and budgetary information, as well as the method and basis for continuation of the assessment. The Annual Report proposes no change in the method of levying the assessment, and no change to the proposed activities.
The Fiscal Year 2018 Annual Report, transmitting the recommendations of the BKPBIA Advisory Board, proposes the following assessment rates:
ASSESSMENT FORMULA
After 20 years at a stagnant rate the annual assessment was set to increase to include a CPI and an additional $20. An annual increase of $20 to the assessment was to be included in the rate over a five-year period to make up the shortfall in funding anticipated in 2020, the contract with the Long Beach Redevelopment Agency expires. The first year of the additional $20 annual increase was to begin on October 1, 2016. However, the BKBIA board requested an implementation delay for the additional $20 assessment to enable adequate stakeholder outreach. As a result of this delay, the only change in the assessment that was implem...
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