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<br />BID 2008 Annual Report <br />April 7, 2008 <br />Page 3 <br /> <br />percent allocation ($137,500), and the Capital Outlay expense ($352,500). <br />Programs and activities for the fifty-two percent market sector will be <br />developed and implemented by stakeholder committees/task forces/work <br />groups/action teams with coordination assistance provided by Downtown <br />staff. Under an agreement between the City and the Downtown Santa Ana <br />Business Council, the forty-eight percent share of the 2007 assessments <br />will be disbursed to the DSABC to manage, as has been done the past few <br />years. This amount, calculated at $105,000, will be combined with their <br />prior year's surplus ($31,000), which has been retained by the DSABC, <br />giving them a total 2008 promotions and marketing budget of $136,000. <br /> <br />The 2008 annual report contains the basis and method of levying the <br />assessment, an estimated cost of providing the improvements and <br />activities and the amount of surplus revenue carried over (Exhibit 1). <br />For 2008, all funds are prior year surplus; therefore, no assessment <br />needs to be levied for this year. In order to comply with State law, the <br />City Council must approve the annual report and budget. <br /> <br />FISCAL IMPACT <br /> <br />Upon approval of the appropriation adjustment, funds will be available in <br />the Downtown Business Improvement District account (Fund No. 93) to set <br />up appropriations for the Downtown Santa Ana Business Improvement <br />District for 2008 and for marketing and promotions. <br /> <br />n~ cA. <br /> <br />tephen G. Harding <br />Deputy City Manager for <br />Development Services <br />Community Development Agency <br /> <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br /> <br />~~~ <br /> <br />Executive Director <br />Finance & Management Services Agency <br /> <br />SGH/NTE/mlr <br /> <br />040708 BID2008AnnualReport <br /> <br />20A-3 <br />