REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Al Zelinka, City Manager
VIA: Jennifer Villasenor, Acting Director of Community Development
PREPARED BY: Kriss Casanova, Economic Development Manager
Subject:
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Approve the Huntington Beach Downtown Business Improvement District's Annual Report and Proposed Budget for Fiscal Year (FY) 2023-2024, and Adopt Resolution No. 2023-37 declaring the City's Intention to Levy an Annual Assessment for FY 2023-2024 at a public hearing scheduled for October 3, 2023
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Statement of Issue:
In September 2004, the City Council approved Ordinance No. 3661, establishing the Huntington Beach Downtown Business Improvement District (District). Each business within the District is assessed an annual fee that is used to fund supplemental services that are above the City's baseline services, within the defined geographic area. As part of the California Parking and Business Improvement Law of 1989, an annual report and budget for the District must be submitted each fiscal year for City Council approval. Council must also adopt a Resolution of Intention to levy an assessment for the upcoming fiscal year at a scheduled public hearing.
Financial Impact:
The District's FY 2023-2024 budget submitted by the Huntington Beach Downtown Business Improvement District (HB Downtown) includes projected revenues of $910,340, of which $110,200 are anticipated to come from business assessments and the remaining from sources other than assessments. Expenditures are reimbursed based upon revenue collected.
In the City's FY 2023-24 Operating Budget, the Huntington Beach Downtown Business Improvement District Fund (Fund 710) totals $107,000 in revenues and offsetting expenditures. It is recommended that an additional $3,200 in revenues and expenditures be appropriated to maintain a balanced budget.
Recommended Action:
recommendation
A) Approve the Huntington Beach Downtown Busines...
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