TITLE
Recommendation to adopt resolution approving the Annual Report for October 1, 2018 to September 30, 2019, for the Fourth Street Parking and Business Improvement Area, declaring its intention to levy the annual assessment, and setting the date of hearing for Tuesday, October 9, 2018. (District 2)
DISCUSSION
The Fourth Street Business Improvement Association (FSBIA) promotes and markets the Fourth Street commercial area using funds generated through the assessment of area businesses located in the Fourth Street Parking and Business Improvement Area (FSPBIA). State law governing Parking and Business Improvement Areas requires that an Annual Report be submitted to the City Council by the Advisory Board designated for the Assessment District. On August 10, 2018, the FSPBIA Advisory Board voted to recommend to the City Council approval of the FSPBIA Annual Report (Exhibit A to the Resolution).
The Annual Report describes boundaries, proposed activities, and budgetary information, as well as the method and basis for continuation of the assessment. The Annual Report proposes no significant change to the District boundaries, the method of levying the assessment, or to the proposed activities.
The Fiscal Year 2019 (FY 19) Annual Report, transmitting the recommendations of the Advisory Board, proposes the following assessment rates:
Method of Assessment
The estimated FY 19 revenue from business assessments is $17,500. Assessments are calculated based upon an annual rate categorized by business license category. Businesses categories and rates are as follows:
Business License Category Annual Rate
Financial/Banking & Insurance $200
Service: Real Estate Offices $200
Retail: Restaurant w/Alcohol & RTE $200
Retail: Other $200
Consulting $200
Construction Contractor $200
Business License Category Annual Rate
Professional $200
Service: Other $200
Miscellaneous: Rec/Ent, Vendors, Manufacturing, Unique, Wholesale, $100
Commercial ...
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