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2nd Amendment to BID Operating Agreements <br />August 4, 2015 <br />Page 2 <br />As of June 30, 2015, DTI has approximately $91,518 and SABC has $155,991 left in their BID <br />accounts to expend. The 2016 BID renewal process will begin in the Fall of the current year. <br />New operating agreements for both business associations will be taken to City Council for <br />approval in mid -2016 if all parties wish to continue with the BID. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #3 Economic Development, <br />Objective #4, (Continue to pursue objectives that shape downtown Santa Ana into a thriving, <br />culturally diverse, shopping, dining, and entertainment destination). <br />FISCAL IMPACT <br />There is no direct fiscal impact to the City associated with this action as the BID assessment <br />revenues are held in trust on behalf of the two organizations. However, if the amendments are <br />approved, funds for the increase in the revolving funds are available in the Trust and Agency <br />Fund in the current FY 2015116; $20,000 in 09301001 -24036 for DTI and $20,000 in 09301001- <br />24043 for SABC. <br />Kelly Reenli,. ,% <br />Executive Director <br />Community Development Agency <br />KR/MM /sb <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />l/ <br />Fr ncisco G errez 5R <br />Executive Director <br />Finance & Management Services Agency <br />Exhibit: 1. 2nd Amendment to Operating Agreement — DTI <br />2 2nd Amendment to Operating Agreement — SABC <br />3. Letter from UCI School of Law requesting $40,000 in revolving fund <br />25B -2 <br />