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CITY OF RIVERSIDE <br /> i" "C llll <br />People Serving ~,~8 <br /> <br /> Peorle <br /> <br />HONORABLE MAYOR AND CITY COUNCIL <br /> <br />SUBJECT: <br /> <br /> DATE: November 19, 2002 <br /> <br />ITEM NO: 2O <br />INTENTION TO LEVY A TAX IN THE RIVERSIDE DOWNTOWN PARKING AND <br /> <br />BUSINESS IMPROVEMENT AREA - RESOLUTION ADOPTION <br /> <br />BACKGROUND: <br /> <br />In 1985, in conjunction with the Riverside Downtown Partnership, the Riverside Downtown Parking and Business <br />Improvement Area (RDPBIA) was formed. Each year the Advisory Board of the RDPBIA is required to present its <br />annual report to the City Council, copy attached. <br /> <br />The Riverside Downtown Partnership, which acts as the Advisory Board of the RDPBIA, is partially funded by a <br />100% levy on the Business Tax of businesses within the Area boundaries. For the Area levy to continue for 2003, <br />the City Council must adopt a Resolution of Intention to impose the levy for the calendar year and set a public <br />hearing. <br /> <br />FISCAL IMPACT: <br /> <br />The levy on the annual business tax is collected by the City for the RDPBIA. The levy is projected to be <br />approximately $230,000 for 2003. There is no fiscal impact to the City if the levy is not collected because all funds <br />are transferred directly to the Riverside Downtown Partnership. <br /> <br />ALTERNATIVE: <br /> <br />Not to bill for the levy for 2003. <br /> <br />RECOMMENDATIONS: <br /> <br />That the City Council: <br /> <br />1. Receive and accept the annual report of the RDPBIA. <br /> <br />2. Adopt a Resolution of Intention to impose the annual levy for calendar year 2003. <br /> <br />3. Schedule a public hearing for December 3, 2002 at 3:00 P.M. for the purpose of adopting a resolution setting the <br />2003 RDPBIA levy. <br /> <br />20-1 <br /> <br /> <br />