Agenda Item Wording:
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Receive the Annual Operation Report for the Town-Center Business Improvement Area and approve amended agreement with Downtown Visalians Inc. to administer the revenues generated from the business tax override to support Downtown Visalia.
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Deadline for Action: 5/15/2023
Submitting Department: Finance and Technology Services
Contact Name and Phone Number:
Melody Murch, (559) 713-4379, melody.murch@visalia.city
Department Recommendation:
It is recommended that the City Council receive the Annual Operations Report for the Town-Center Business Improvement Area (TCBIA) and approve the revised TCBIA agreement between City and Downtown Visalians Inc. to be effective July 1, 2023.
Background Discussion:
Summary:
Business owners located in the Town-Center Business Improvement Area (TCBIA) voluntarily voted to pay a surcharge on their Business Tax (BT) for the purpose of providing parking, decorations, music, and promotion of public events and Downtown business. The revenue from this surcharge is collected during the City's BT billing process, and administered by Downtown Visalians, Inc. (DTV) through a management agreement with the City. This agreement requires the presentation of an Annual Operations Report (Report) of all matters covered under the agreement for the preceding fiscal year. Approval of the Report triggers renewal of the management agreement for another year. The 2022 Report is provided as Attachment A to this agenda item, and the presentation to be given tonight by Steve Nelson, the Executive Director and CEO of DTV.
The current TCBIA Management Agreement was approved in October of 2012, and requires minor revisions to incorporate changes to the payment schedule of assessments and update the reports provided along with these payments. In addition, staff requests a change of the TCBIA fiscal year to be the c...
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