TITLE
Recommendation to approve the Downtown Long Beach Property and Business Improvement District Annual Report for the period of
January 1, 2015 through December 31, 2015, automatically extending the Agreement for Funding with the Downtown Long Beach Associates for one year; and authorize payment of $415,548 in City property assessments from the Civic Center Fund (IS 380) in the Public Works Department (PW). (Districts 1,2)
DISCUSSION
Downtown Long Beach Associates (DLBA) has three established sources of revenue that pass through the City to the organization. These include business operator assessments, property owner assessments and downtown parking meter revenue sharing. This recommended action relates to property owner assessment funds for expenses related to security, maintenance, public relations, special projects, advocacy and economic development in Downtown Long Beach. City Council approves the business operator assessment separately. DLBA’s Approved FY 2014-15 Budget Narrative, including all sources of revenue, is provided for reference in Exhibit A.
The Downtown Long Beach Property and Business Improvement District (DLB-PBID) was established by the City Council on August 4, 1998. On August 7, 2012, City Council re-established the DLB-PBID. This re-establishment required a majority vote of the property owners in favor of re-establishing the district for a new term of ten years.
On January 12, 2001, City Council and DLBA executed an Agreement for Funding setting forth the duties and delegations of the parties. This Agreement is automatically extended on a year-by-year basis upon approval of the annual Assessment Report and the related levy of assessments by City Council.
The DLBA Board voted on April 16, 2014 to raise assessment rates one and one-half percent (1.5%) per the allowed CPI adjustment. This is reflected in the attached budget and report. Properties are assessed based upon location within two defined zones in the DLB-PBID area...
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