TITLE
Recommendation to receive and file the Annual Report of the Downtown Long Beach Parking and Business Improvement Area; approve the proposed budget for Fiscal Year 2010 (FY 10); and authorize City Manager to execute a contract with the Downtown Long Beach Associates for the period of October 1, 2009 through
September 30, 2010. (Districts 1,2)
DISCUSSION
Downtown Long Beach Associates (DLBA) has three established 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 recommended action relates to business operator assessment funds used to promote and market downtown Long Beach on behalf of businesses located in the Downtown Long Beach Parking and Business Improvement Area (DLBPBIA). The City Council approves the property owner assessment separately.
The proposed contract with DLBA requires the City to transmit all DLBPBIA assessment funds collected from downtown businesses to the DLBA every other month. This City Council action estimates DLBPBIA assessment revenue of $585,000 for the contract period of October 1, 2009 through September 30, 2010. The DLBA's 2010 Annual Budget and Management Report is attached. The DLBA will provide quarterly reports to the City on expenditures and submit an annual report summarizing FY 10 activities.
This letter was reviewed by Chief Assistant City Attorney Heather Mahood on September 16, 2009 and Budget and Performance Management Bureau Manager David Wodynski on September 21,2009.
TIMING CONSIDERATIONS
The DLBA contract year begins on October 1,2009. City Council action is requested on October 6, 2009 to allow FY 10 assessment transfers to be made in accordance with the City's contract with DLBA.
FISCAL IMPACT
Sufficient funds are included in the FY 10 Budget in the Parking and Business Area Improvement Fund (SR 132) in the Department of Community Development (CD) to support these pass-...
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