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City °JArts &Innovation <br />City Council Memorandum <br />IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII <br />TO: HONORABLE MAYOR AND CITY COUNCIL DATE: AUGUST 2, 2022 <br />FROM: FINANCE DEPARTMENT WARDS: 4 & 5 <br />SUBJECT: ANNUAL REPORT OF RIVERSIDE NEW CAR DEALERS ASSOCIATION AND <br />RESOLUTION DECLARING INTENTION TO LEVY ANNUAL ASSESSMENT IN <br />AUTO CENTER BUSINESS IMPROVEMENT DISTRICT FOR ONE YEAR <br />BEGINNING SEPTEMBER 1, 2022, AND FIXING TIME AND PLACE FOR A <br />PUBLIC HEARING ON LEVY OF PROPOSED ASSESSMENT <br />ISSUES: <br />Approve the annual report of the Riverside New Car Dealers Association acting in its capacity as <br />the advisory board to the Auto Center Business Improvement District, adopt a Resolution <br />declaring the City of Riverside's intent to levy an annual assessment within the Auto Center <br />Business Improvement District beginning September 1, 2022, and fix the time and place for a <br />public hearing on the levy of the proposed assessment for August 16, 2022, at 3:00 p.m. <br />RECOMMENDATIONS: <br />That the City Council: <br />1. Receive and approve the annual report of the Riverside New Car Dealers Association <br />acting in its capacity as the advisory board to the Auto Center Business Improvement <br />District; <br />2. Adopt a Resolution declaring the City of Riverside's intent to levy an annual assessment <br />within the Auto Center Business Improvement District beginning September 1, 2022, and <br />ending August 31, 2023; and <br />3. Set a public hearing for August 16, 2022, at 3:00 p.m. on the levy of the proposed <br />assessment. <br />BACKGROUND: <br />The City of Riverside established the Auto Center Business Improvement District (Auto Center <br />BID) in the Auto Center area to engage in general business and event promotions and business <br />activities, advertise District businesses, provide electronic display sign operation and <br />maintenance, and to provide maintenance and repair of entryway monuments, pods, and <br />landscaping. The City Council approved the formation of the Auto Center BID on July 26, 2011, <br />