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BID Operating Agreements <br />September 16, 2013 <br />Page 2 <br />upfront funding to each organization for this first year only, subject to subsequent receipt of <br />verifiable invoices/receipts. In previous years, the operating fund of the BID had a prior year <br />carry forward amount that could be utilized. Upon receipt of city-approved invoices for all other <br />expenses, the City will reimburse the two organizations per the terms of the Agreement. City <br />staff will work closely with each organization to establish a process to ensure that timely and <br />accurate receipts will be submitted for reimbursement. <br />The terms of these Operating Agreements commence on September 17, 2013 and terminate on <br />September 17, 2016, unless terminated sooner due to any violations of the provisions in the <br />Agreement, or if the BID is not approved in any given year. The Agreements will be renewed <br />automatically in one year renewal terms, unless either party gives at least two months' notice of <br />termination. It is still anticipated that both organizations' budgets will be approved by the <br />Community Redevelopment and Housing Commission and then by City Council for the <br />subsequent levy of assessments in 2014 and 2015. <br />FISCAL IMPACT <br />There is no direct fiscal impact to the City associated with this action as Business Improvement <br />Area revenues are transferred to the District accounts for use in accordance with its budget. <br />J*q?;) - <br />Nancy Fon , A <br />Interim Executive Director <br />Community Development Agency <br />I <br />Francisco Gutierrez Wo <br />Executive Director <br />Finance & Management Services Agency <br />NF/MM/kg <br />Exhibits 1. Operating Agreement with DTI <br />2. Operating Agreement with Santa Ana Business Council Inc. <br />3. Budgets Summary of 2013 BID Assessment Report <br />25D-2