REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Fred A. Wilson, City Manager
PREPARED BY: Kellee Fritzal, Deputy Director of Economic Development
Subject:
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Public Hearing to consider adoption of Resolution No. 2018-53 approving an Annual Assessment within the Huntington Beach Downtown Business Improvement District (DTBID) for Fiscal Year 2018-2019; and, authorize appropriation of funds
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Statement of Issue:
On August 20, 2018, the City Council approved Resolution No. 2018-43, declaring its intention to levy an assessment for the Huntington Beach Downtown Business Improvement District (DTBID) and authorized the City Clerk to schedule a public hearing for September 17, 2018. The City Council is requested to conduct the public hearing and consider adopting Resolution No. 2018-53 to approve the annual assessment for 2018-19.
Financial Impact:
The 2018-2019 Huntington Beach Downtown Business Improvement District Budget includes revenues of $651,460 and expenses of $651,356. Within the DTBID budget, $121,460 in revenues is derived from DTBID Member Assessments which are only included in the City's 2018-2019 Budget (Fund 710). The actual amount of all DTBID fees assessed is $134,360; however, due to vacancies, business closures, and other non-payments, the DTBID does not budget for 100% of projected fees.
City Council authority is needed to increase the appropriation of current year budgeted revenues and expenditures by $11,460. The budget was originally estimated at $110,000, but City Council approval will increase Fund 710 to $121,460.
Recommended Action:
recommendation
A) Conduct the Public Hearing; and,
B) If protests of 50% are not received, adopt Resolution No. 2018-53, "A Resolution of the City Council of the City of Huntington Beach Approving An Annual Assessment Within the Huntington Beach Downtown Business Improvement District For Fiscal Year 2018-2019"; and
C) Appropriate an a...
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