City Council

(38) 24­0635 CDs 8 & 10 COMMUNICATION FROM THE CITY CLERK and ORDINANCE OF INTENTION FIRST CONSIDERATION relative to the renewal of the Greater Leimert Park Village / Crenshaw Corridor (Property­Based) Business Improvement District (BID) for a ten­year term beginning January 1, 2025 and ending December 31, 2034. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. APPROVE Recommendation Nos. 1 through 14, 16, and 17 of the City Clerk report dated May 31, 2024, attached to the Council file. 2. PRESENT and ADOPT the accompanying ORDINANCE OF INTENTION, dated May 30, 2024, to establish a Property­ Based BID to be known as the "Greater Leimert Park Village / Crenshaw Corridor Property BID" pursuant to the Provisions of the Property and BID Law of 1994 (Division 18, Part 7, Streets and Highways Code, State of California) and to levy assessments. 3. REQUEST the City Attorney, with the assistance of the City Clerk, to prepare an enabling Ordinance establishing the Greater Leimert Park Village/Crenshaw Corridor Property­Based BID for City Council consideration at the conclusion of the required public hearing. Fiscal Impact Statement: The City Clerk reports that the assessment levied on the City­owned properties within the BID to be paid from the General Fund total $117,274.76 (City Parcels: $98,116.53, CRL/LA: $19,158.41) for the first year of the BID. Funding is available in the BID Trust Fund No. 659 to pay the General Fund’s share of assessments for the first operating year. Proposition 218 requires the separation of general benefits from the special benefits. The general benefit portion for the Greater Leimert Park Village/Crenshaw Corridor Property­Based BID is 2 Tuesday - June 4,for percent, or $12,400, 2024 the- first year. However, PAGE funds 33 other than assessment revenue must be budgeted annually for the general benefit Fiscal Impact Statement: The City Clerk reports that the assessment levied on the City­owned properties within the BID to be paid from the General Fund total $117,274.76 (City Parcels: $98,116.53, CRL/LA: $19,158.41) for the first year of the BID. Funding is available in the BID Trust Fund No. 659 to pay the General Fund’s share of assessments for the first operating year. Proposition 218 requires the separation of general benefits from the special benefits. The general benefit portion for the Greater Leimert Park Village/Crenshaw Corridor Property­Based BID is 2 percent, or $12,400, for the first year. However, funds other than assessment revenue must be budgeted annually for the general benefit expense for the remaining years of the BID's ten­year term. (Trade, Travel and Tourism Committee waived consideration of the above matter)