TITLE
Recommendation to adopt resolution approving the Annual Assessment Report from October 1, 2007 to September 30, 2008, for the Bixby Knolls 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. (Districts 7,8)
DISCUSSION
The Bixby Knolls Business Improvement Association promotes and markets the Bixby Knolls commercial area using funds generated through the assessment of area businesses located in the Bixby Knolls Parking and Business Improvement Area (BKPBIA). State law governing Parking and Business Improvement Areas require that an annual assessment report be submitted to the City Council by the Advisory Commission designated for the Assessment District. On July 26, 2007, the BKPBIA Advisory Commission voted to recommend to the City Council approval of the BKPBIA Assessment Report (Attachment A).
The Assessment Report describes the boundaries, proposed activities and budgetary information, as well as the method and basis for continuation of the assessment. The report proposes no change in the method of levying the assessment and no significant changes to proposed activities. Anticipated revenue rises slightly due to increasing occupancy rates within the BKPBIA.
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 a public hearing for September 18, 2007 (see attached resolution).
This letter was reviewed by Assistant City Attorney Heather Mahood on July 30, 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 near the start of the contract year, which begins on October 1, 2007.
FISCAL IMPACT
It is estimated t...
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