City Council

9.5 INTENT TO LEVY PARKING AND BUSINESS IMPROVEMENT DISTRICT (PBID)\nANNUAL ASSESSMENT AND APPROVE THE PBID ANNUAL SPENDING PLAN FOR\nFISCAL YEAR 2023-24 AND 2024-25\nComments:\nOn November 27, 1985, Lynwood Ordinance 1262 was adopted into law establishing the\nParking and Business Improvement District (PBID). PBJD assessments are levied as a\nfair and equitable way to provide funds to maintain, operate, and improve business areas\nin the City. The fundamental purpose of the PBID is to promote the economic\nrevitalization and physical maintenance of the Lynwood business community.\nRecommendation:\nStaff recommends that the Council:\n1. Adopt the attached resolution entitled: 'A RESOLUTION OF THE CITY COUNCIL\nOF THE CITY OF LYNWOOD, COUNTY OF LOS ANGELES, STATE OF\nCALIFORNIA APPROVING THE PARKING AND BUSINESS IMPROVEMENT\n5\nDISTRICT (PBID) ADVISORY BOARD'S RECOMMENDATION OF SETTING THE\nASSESSMENT AGAINST BUSINESS ENTERPRISES IN THE PBID FOR FISCAL\nYEARS 2023-24 AND 2023-24, AND FIXIING THE TIME AND PLACE OF A\nPUBLIC HEARING FOR THE LEVY OF THE ASESSMENT."