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80A - PH - AMEND DOWNTOWN MGMT PLAN
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05/18/2009
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80A - PH - AMEND DOWNTOWN MGMT PLAN
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Last modified
1/3/2012 4:20:27 PM
Creation date
5/13/2009 3:38:21 PM
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City Clerk
Doc Type
Agenda Packet
Item #
80A
Date
5/18/2009
Destruction Year
2014
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All projects and activities are designed to enhance the assets and image <br /> of Downtown Santa Ana, and thereby increase commerce and promote <br /> business within the boundaries of the CMD. The annual budget for the <br /> first year is estimated to be $950,000. Of that amount, $920,000 is to be <br /> generated through special assessments. The nonprofit Management <br /> District Corporation shall have the right to reallocate up to 35 percent of <br /> the total budget within the budget categories. Accrued interest or <br /> delinquent payments may be expended in any budget category. <br /> <br /> Any funds remaining after the fifth year of operation will be rolled over into <br /> <br /> the renewal budget or returned to stakeholders. Also, if the funds are <br /> available in the fourth or fifth year of operations, costs for renewal may be <br /> expended. If the District is not renewed or terminated for any reason, <br /> unexpended funds will be returned to the property owners. <br /> 9 <br /> 80A-13 <br /> <br />
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