REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Eric G. Parra, Interim City Manager
VIA: Jennifer Villasenor, Director of Community Development
PREPARED BY: Christopher Kennedy, Economic Development Project Manager
Subject:
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Approve the Huntington Beach Downtown Business Improvement District's (District) Annual Report and Budget for Fiscal Year (FY) 2024-2025 and Adopt Resolution No. 2024-41 to continue levying an Annual Assessment on businesses within the District, with a public hearing scheduled for October 1, 2024
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Statement of Issue:
The Huntington Beach Downtown Business Improvement District (District) was established by the City Council in 2004 to enhance services and improvements within the downtown area. Businesses within the District pay an annual fee, which funds these enhancements beyond the City's baseline services. Every year, the City Council must review and approve an Annual Report and budget submitted by the Huntington Beach Downtown Business Improvement District (Downtown HB), as required by state law. Additionally, the City Council must pass a resolution to continue collecting the annual fee.
Financial Impact:
The District's FY 2024-2025 budget submitted by Downtown HB includes projected revenues of $910,625, with $117,000 expected from business assessments. The remainder comes from other sources. The City's FY 2024-25 Operating Budget, specifically the Huntington Beach Downtown Business Improvement District Fund (Fund 710), includes $125,000 in related revenue and matching expenditures.
Recommended Action:
recommendation
A) Approve the Huntington Beach Downtown Business Improvement District Annual Report and Budget for FY 2024-2025; and,
B) Adopt Resolution No. 2024-41, "A Resolution of the City Council of the City of Huntington Beach Declaring the City's Intention to Levy an Annual Assessment for FY 2024-2025 within the Huntington Beach Downtown Business Improve...
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