TITLE
Recommendation to adopt resolution approving the Annual Assessment Report for October 1, 2007 to September 30, 2008, for the Belmont Shore Parking and Business Improvement Area, declaring its intention to levy the annual assessment, and set date of hearing for
September 18, 2007, at 5:00 p.m. (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 Areas require the submission of an annual assessment report by the Advisory Commission designated for this Assessment District. On June 21 2007, the BSPBIA Advisory Commission voted to recommend to City Council approval of the BSPBIA Assessment Annual 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 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 September 18, 2007 (see attached resolution).
This letter was reviewed by Assistant City Attorney Heather Mahood on August 1,2007, Budget and Performance Management Bureau Manager David Wodynski on August 8, 2007 and the City Treasurer's Office on August 3, 2007.
TIMING CONSIDERATIONS
City Council action is requested on August 21, 2007, to set the date for the public hearing prior to the start of the contract year, which begins on October 1, 2007.
FISCAL IMPACT
It is expected that the BSPBIA will generate $153,000 in Fiscal Year 2008 (FY 08) through the proposed continu...
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