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Council Memorandum • Paae 2 <br />FISCAL IMPACT: <br />The City collects the levy on the annual business tax for the RDPBIA. The levy is projected to be <br />approximately $370,000 for 2012. There is no fiscal impact to the City if the levy is not collected <br />because all funds are transferred directly to the Riverside Downtown Partnership. The <br />Redevelopment Agency contributed a matching grant of $100,000 to the RDPBIA in the prior year. <br />The RDPBIA anticipates the same level of participation in the new year, and that amount is included <br />as part of the 2011/12 adopted budget. <br />Prepared by: Brent A. Mason, Finance Director <br />Certified as to <br />Availability of funds: Paul C. Sundeen, Assistant City Manager /CFO /Treasurer <br />Approved by: Paul C. Sundeen, Assistant City Manager /CFO /Treasurer <br />for Scott C. Barber, Interim City Manager <br />Approved as to form: Gregory P. Priamos, City Attorney <br />Attachments: <br />1. Resolution of Intention to Levy a Tax on the Riverside Downtown Parking and Business <br />Improvement Area <br />2. Annual Report on the Riverside Downtown Parking and Business Improvement Area <br />17 -2 <br />