TITLE
Recommendation to approve the transfer of the Ninth Council District's Fiscal Year 2014 one-time infrastructure funds in the amount of $100,000 to the Uptown Property and Business Improvement District (PBID) to fund early action community services during its initial start-up period; and
Decrease appropriations in the Capital Projects Fund (CP) in the Public Works Department (PW) by $100,000, and increase appropriations in the General Fund (GP) in the Public Works Department (PW) by $100,000. (District 9)
DISCUSSION
In October 2013, property and business owners voted to establish a Property and Business Improvement District (PBID) along the Atlantic Avenue corridor from Market Street to Artesia Boulevard, and along Artesia Boulevard from Atlantic Avenue to Orange Avenue. On January 1, 2014, the Uptown Property and Business Improvement District (Uptown PBID) became effective. The Uptown PBID was formed to revitalize specific business corridors and the surrounding community, including security, maintenance, marketing, and economic development. The Board of Directors of the Uptown PBID seek to quickly begin these activities as soon as possible.
This is the first PBID formed after the dissolution ofthe Redevelopment Agency and, consequently, early action funds are unavailable from this source. In order to ensure the success of this new PBID, Council District 9 is willing to provide funding for these early action community services out of the balance of the District's one-time infrastructure funds and requests approval from the City Council for the reallocation of $100,000 of these funds.
This matter was reviewed by Assistant City Attorney Kendra L. Carney on June 10, 2014 and Budget Management Officer Victoria Bell on June 26, 2014.
TIMING CONSIDERATIONS
The PBID is prepared to begin various early action community services immediately. Action on this item on July 22, 2014 will facilitate this effort.
FISCAL IMPACT
A transfer of $100,000 from Cou...
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