Agenda Item Wording:
title
Town-Center Business Improvement Area Annual Report - Accept and approve the Annual Town-Center Business Improvement Area Report, renewing the Management Agreement with Downtown Visalians, Inc. for an additional one-year term to begin July 1, 2025.
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Deadline for Action: 5/31/2025
Submitting Department: Finance and Technology Services
Contact Name and Phone Number:
Melody Murch, Assistant Finance Director (559) 713-4379, melody.murch@visalia.city
Ruth Pena Financial Analyst, (559) 713-4327, ruth.pena@visalia.city
Department Recommendation:
That Council accept and approve the Annual Report for the Town-Center Business Improvement Area (TCBIA), renewing the TCBIA Management Agreement with Downtown Visalians, Inc. for an additional one-year term to commence July 1, 2025.
Background Discussion:
Summary:
Business owners located in the Town-Center Business Improvement Area (TCBIA) have 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 businesses. 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 submission 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 Calendar Year 2024 Report is provided as Attachment A Part 1, and Attachment A Part 2 to this agenda item.
The current TCBIA Management Agreement was initially approved in May 2023, and the current one-year term runs from July 1, 2024, to June 30, 2025. The agreement is renewable annually, and according to the agreement terms, acceptance and approval of the attached annual report will renew the agreement for an additional one-year term, commencing o...
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