11-10-2015 CC RPT 19 - Laserfiche WebLink

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ICI CITY OF RJVEIZSIDE City 01Arts &Innovation City Council Memorandum III lllllllllllllllllllllllllllllllllllllllllll 11111111111111111111111111111 lllllllllllll 11111111111111111111111111111111111111111 llllllllllllllllllllll 11111111111111111111 lllllllllllllllllllllllllllllllllllllllllll 11111111111 lllllllllllllllllllllllllllllll TO: FROM: FINANCE DEPARTMENT HONORABLE MAYOR AND CITY COUNCIL DATE: NOVEMBER 10, 2015 WARDS: 1 AND 2 SUBJECT: ANNUAL APPROVAL OF ASSESSMENTS IN THE DOWNTOWN PARKING AND BUSINESS IMPROVEMENT AREA — RESOLUTION OF INTENTION ADOPTION ISSUE: The issues for City Council consideration are: 1) approval of the annual report for the Downtown Parking and Business Improvement Area ( "BIA "); 2) adoption of a Resolution of Intention stating the City's intention to levy the assessments for the 2016 calendar year; and 3) approval to set a public hearing for December 1, 2015, to receive comments from interested parties. RECOMMENDATIONS: That the City Council: 1. Receive and approve the annual report of the Downtown Parking and Business Improvement Area; 2. Adopt a Resolution of Intention to impose the annual assessments for calendar year 2016 as codified in Riverside Municipal Code 3.46.060; and 3. Schedule a public hearing for December 1, 2015, at 3:00 PM for the purpose of adopting a resolution approving the 2016 assessments. BACKGROUND: In 1985, in conjunction with the Riverside Downtown Partnership ( "RDP "), the Downtown BIA was formed. Each year the Advisory Board of the BIA is required to present its annual report to the City Council (Attachment 2). The RDP, which acts as the Advisory Board of the Downtown BIA, is partially funded by an assessment equal to 100% of the Business Tax assessed to businesses within the BIA boundaries. The levy provides funding for specific services and benefits that are conferred directly to the businesses subject to the assessment, at a cost that does not exceed the reasonable costs to the City of providing the services and benefits. For the levy to continue for 2016, the City Council must adopt a Resolution of Intention to impose the levy for the calendar year and to set a public hearing. The public hearing is being set for December 1, 2015, at 3:00 p.m. in the City Council chambers at City Hall, at which time protests may be heard against the proposed action.