TITLE
Recommendation to adopt resolution approving the Annual Report for October 1, 2021, to September 30, 2022, for the Belmont Shore Parking and Business Improvement Area, declaring its intention to levy the annual business assessment, and setting the date of hearing for Tuesday, October 5, 2021. (District 3)
DISCUSSION
The Belmont Shore Parking and Business Improvement Area (BSPBIA) was established by the City Council in 1983, allowing for the levy of an annual business license assessment to be paid by businesses located in the BSPBIA. The City of Long Beach (City) contracts with the Belmont Shore Business Association (BSBA) to manage the BSPBIA and the BSBA Board of Directors serves as the Advisory Board to the City Council on matters related to the BSPBIA. The BSBA promotes and markets the commercial area along Second Street using funds generated through the BSPBIA business license assessment.
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 this Assessment District. On August 2, 2021, the BSBA Board of Directors voted to recommend to the City Council approval of the 2021-2022 BSPBIA Annual Report (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 the continuation of the assessment. The Annual Report proposes no change to the BSPBIA boundaries or the method of levying the assessment.
The Annual Report, transmitting the recommendations of the BSBA, proposes the following assessment rates.
Method of Assessment
The estimated 2021-2022 fiscal year revenue from business assessments is $120,000. Assessments are calculated by category of business and incorporate a base rate plus a per employee rate. Business categories and rates are as follows:
CATEGORIES BASE RATE EMPLOYEE RATE
Financial Institution $1,646.22 $...
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