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MEMORANDUM <br />To: Mayor and City Council Date: November 29, 2016 <br />From: David Cavazos, City Manager <br />Subject: DOWNTOWN SANTA ANA BUSINESS IMPROVEMENT DISTRICT (BID) METRICS <br />This memo provides a summary of the performance metrics for the Downtown BID. <br />BACKGROUND <br />BID ADMINISTRATION <br />To administer the activities of the Downtown Business Improvement District (BID), the City <br />executed operating agreements with Downtown Inc. (DTI) and the Santa Ana Business <br />Council (SABC) in 2013. The Agreements are renewed automatically in one-year renewal <br />terms, unless either party gives at least two months' notice of termination, or if the BID is not <br />approved in any given year. <br />BID FUNDS <br />The BID is funded through an additional charge on the business license tax for those <br />businesses within the BID boundary. The City collects the BID revenue from businesses within <br />the BID boundary and distributes funding to each of the two BID organizations, in accordance <br />with approved operating agreements. The organizations submit invoices and receipts for <br />reimbursement to the City on a rolling basis. DTI and SABC each receive approximately <br />$100,000 per calendar year from the additional business levy assessment. <br />PERFORMANCE METRICS <br />REAL ESTATE INDICATORS <br />Vacancy Rate (Retail and Office) <br />The downtown vacancy rate for retail and office space is 6.9%. This represents a decrease <br />from a peak vacancy rate of 11.8% in February 2013. <br />