09-21-2004 CC RPT 25 - Laserfiche WebLink

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People Serving Peo[*le CITY OF RIVERSIDE CITY COUNCIL MEMORANDUM Riverside Ail-America City ]998 HONORABLE MAYOR AND CITY COUNCIL DATE: September 21, 2004 ITEM NO: 25 SUBJECT: INTENTION TO LEVY A TAX IN THE ARLINGTON PARKING AND BUSINESS IMPROVEMENT AREA {APBIA) - RESOLUTION ADOPTION BACKGROUND: The Arlington Parking and Business Improvement Area (APBIA) was formed in 2002. Each year the Advisory Board of the APBIA is required to present its annual report to the City Council. A copy is attached. The Arlington Partnership, which acts as the Advisory Board of the APBIA, is partially funded by a 90% or $400.00 levy, whichever is less, on the Business Tax of businesses within the Area boundaries. For the levy to continue for the 2004/05 year, effective November 1,2004, the City Council must adopt a Resolution of Intention to impose the levy and set a public hearing. The resolution is attached and the public hearing is scheduled for October 5, 2004 at 3:00 PM. FISCAL IMPACT: The levy on the annual business tax is collected by the City for the APBIA. The levy is projected to be approximately $230,000 for the 2004/05 year. There is no fiscal impact to the City if the levy is not collected; all funds collected are transferred directly to the Arlington Partnership. The City funds a match of $100,000, which is included in the approved 2004/05 budget. ALTERNATIVE: To not approve the levy for the 2003/04 year. RECOMMENDATIONS: That the City Council: 1- Receive and accept the annual report of the APBIA, 2- Adopt a Resolution of Intention to impose the annual levy for the 2004/05 year, and 3- Schedule a public hearing for October 5, 2004 at 3:00 PM for the purpose of adopting a resolution setting the 2004/05 APBIA levy. 25-1