TITLE
Recommendation to adopt resolution approving the Annual Assessment Report for October 1, 2010 to September 30, 2011, for the Long Beach Tourism Business Improvement Area, declaring its intention to levy the annual assessment and setting a date for a public hearing for Tuesday, October 5, 2010 at 5:00 p.m. (Districts 1,2,4,5)
DISCUSSION
The Long Beach Area Convention and Visitor Bureau (LBCVB) promotes and markets the City of Long Beach as a tourism destination using funds generated through the assessment of hotel properties located in the Long Beach Tourism Business Improvement Area (LBTBIA). State law governing Parking and Business Improvement Areas require the submission of an annual assessment report by the Advisory Commission designated for this Assessment District.
At its July 15, 2010 meeting, the LBCVB Board voted to adopt the Fiscal Year 2011 LBTBIA Assessment Report (Attached). The Assessment Report describes 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 basis and method of levying the assessment and no significant change in proposed activities.
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 the public hearing for October 5, 2010.
This letter was reviewed by Chief Assistant City Attorney Heather Mahood on August 17, 2010, City Treasurer David Nakamoto and Budget Management Officer Victoria Bell on August 18, 2010.
TIMING CONSIDERATIONS
City Council action is requested on September 7, 2010 to set the date for the public hearing for October 5, 2010. The new contract year begins on October 1, 2010.
FISCAL IMPACT
It is estimated that the LBTBIA will generate $3,054,000 in Fiscal Year 2011 (FY 11) through the proposed continuation of the assessment. Short term room rental-a...
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