TITLE
Recommendation to approve the Downtown Long Beach Property and Business Improvement District Annual Report for the period of January 1, 2009 through December 31, 2010, automatically extending the Agreement for Funding with the Downtown Long Beach Associates for one year. (Districts 1,2)
DISCUSSION
Downtown Long Beach Associates (DLBA) has three routine sources of revenue that pass through the City to the organization. They are: business operator assessments, property owner assessments and downtown parking meter revenue sharing. This 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 2009 comprehensive budget, including all sources of revenue, is provided for reference in Attachment A.
The Downtown Long Beach Property and Business Improvement District (DLB-PBID) was established by the City Council on August 4, 1998. On July 22, 2003, City Council again 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 (Agreement) setting forth the duties and obligations of the parties. This Agreement is automatically extended on a year-by-year basis upon approval of the Annual Report and related levy of assessments by City Council.
Properties are assessed based upon location within three defined zones in the DLBPBID area. The assessment rate and level of program service provided varies, depending upon the zone in which the property is located. Assessment rates for 2009 are described in Section 6.3 of Attachment B. Total property assessment revenue of $1,803,042 is reported in Section 8.
The DLB-PBID assessment area contains properties owned by private commercial pr...
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