Agenda Item Wording:
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Receive the May 2022 Annual Operations Report for the Downtown Visalia Property and Business Improvement District (DTVPBID); and approve the 5% annual assessment increase as proposed, or amended, to be included in the 2022/23 tax roll, as required by the DTVPBID Management District Plan (MDP).
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Deadline for Action: 5/23/2022
Submitting Department: Finance and Technology Services
Contact Name and Phone Number:
Melody Murch, 559-713-4379, melody.murch@visalia.city
Department Recommendation:
That Council receive the Annual Operations Report for the DTVPBID, as submitted by the Downtown Visalia Property Owner's Association (DTVPOA), and review and approve the proposed increase in assessments for the 2022-23 tax roll, making any changes they deem necessary prior to approval.
Background Discussion:
Summary:
The Downtown Visalia Property and Business Improvement District (DTVPBID) is an assessment district which provides activities and improvements to Downtown property owners. The DTVPBID was created in 1998 and has been extended by ballot of the affected property owners ever since. The current DTVPBID duration is January 1, 2020, through December 31, 2029. In accordance with the DTVPBID Management District Plan (MDP), the City has contracted with the Downtown Visalia Property Owner's Association (DTVPOA) for the administration of the DTVPBID.
The DTVPBID is required to submit the attached annual operations report by May 31st each year in accordance with the Property and Business Improvement District Law of 1994 (PBID Law) and the current agreement between the City and the DTVPOA. The report summarizes past, current, and planned activities, improvements, and the financial state of the DTVPBID. The report must also include any planned assessment increases. Council's role, according to PBID Law, is to review the attached report to ensure consistency with the Management...
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