TITLE
Recommendation to approve the Uptown Property and Business Improvement District Annual Report and Assessment for the period of January 1, 2016 through December 31, 2016, automatically extending the current agreement with the Uptown Property and Community Association for a one-year period; and authorize payment of $54,561 in City property assessments. (Districts 8,9)
DISCUSSION
Pursuant to the Property and Business Improvement Law of 1994 (Law), the Uptown Property and Business Improvement District (UPBID) was established by the City Council in 2013 for a five-year period. Under the Law, Uptown Property and Community Association (UPCA) property owners assess themselves an additional fee to pay for various services beyond those provided by the City, including enhanced maintenance, public safety, beautification, marketing, and economic development programs.
The 1994 Law requires that the UPCA Advisory Board approve and file an Annual Report describing their projected budget and expenditures. The Fiscal Year (FY 16) Annual Report is attached for City Council approval. The levy of assessment will cover the period of January 1, 2016 through December 31, 2016.
The Board-approved UPBID rate of assessment is based on parcel size and use, as shown on Page 4 of the attached Annual Report. The UPBID Management Plan allows up to a 4 percent per year cost-of-living increase in the assessment rate. For FY 16 the UPBID Board voted to maintain the assessment at the same rate as FY15.
The UPBID assessment area contains properties owned by private commercial owners and the City of Long Beach. In FY 16, properties over 20,000 square feet up to 100,000 square feet are assessed an annual amount of $0.09 per square foot. Properties less than 20,000 square feet will be assessed at a rate no greater than $0.08 per square foot. Properties larger than 100,000 square feet will be assessed an annual amount of $0.10 for each square foot. The total property assessment to be...
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