Agenda Item Wording:
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Receive the May 2023 Annual Operations Report for the Downtown Visalia Property and Business Improvement District (DTVPBID) as required by Property and Business Improvement District Law of 1994 (PBID Law) and the current agreement between the City and the Downtown Property Owner's Association and Approve DTVPBID 5% assessment increase as proposed, or amended, to be included in the 2023/2024 tax roll, as required by the DTVPBID Management District Plan (MDP).
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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:
That Council:
1. Receive the Annual Operations Report for the Downtown Visalia Property and Business Improvement District (DTVPBID), and;
2. Approve the 5% increase in DTVPBID assessments as proposed, or amended, for the 2023-24 tax roll, making any changes they deem necessary prior to approval.
Background Discussion:
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 DTVPBID is in its 5th iteration, and the current 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, and the DTVPOA has subcontracted this administration to Downtown Visalians, Inc.
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, impro...
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