City Council

Item 118: Fiscal Year 2025 Downtown Property and Business Improvement District Budget.\nTotal Estimated Cost of Proposed Action and Funding Source:\nThe Fiscal Year 2025 Downtown Property and Business Improvement District (PBID)\nbudget is expected to total $12,495,695. This includes: Fund Balance ($115,942); Non-\nCity Parcel Assessments ($11,482,424); City-Owned Parcel Assessments ($812,010);\nFederal Parcel Adjustment (-$201,480); Water Feature Reimbursement ($56,001); and\nGas Tax Fund Allocation ($29,319).\nCouncil District(s) Affected: 3.\nProposed Actions:\n(R-2024-598)\nResolution approving the Annual Report submitted in connection with Downtown PBID\nfor fiscal year 2025 and related funding actions.\nCommittee Actions Taken:\nThis item was heard at the Economic and Intergovernmental Relations Committee\nmeeting on May 22, 2024.\nACTION: Motion by Chair Campillo, second by Committee Member Campbell, to\nrecommend Council approval of staff's proposed actions.\nVOTE: 4-0; Campillo-yea, Campbell-yea, Foster III-yea, Lee-yea.\nEconomic Development: Christina Bibler, (619) 236-6421\nCity Attorney Contact: Daphne Z. Skogen