HomeMy WebLinkAbout10. Adopt Reso Amending FY 2018-19 Budget for the Downtown Downey CBD Spcl AssessmentQi
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APPROVED
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HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL CITY MANAGE[
#FFICE OF ,
: • E. SCHINDLER, DIRECTOR OF COMMUNITY DEVELOPMENT
SEPTEMBER 11, 2018
DOWNTOWN DOWNEY COMMUNITYDISTRICT
PAYMENT FOR l PROPERTIES
RECOMMENDATION
That the City Council adopt the following resolution.,°
•
Following the establishment of the Downtown Downey Community Benefit District (CBD) at the July 24,
2018 City Council meeting, staff directed the Los Angeles County Auditor -Controller's Office to add the
CBD's special assessment fees to the affected property tax bills; this task was accomplished in August
2018 for all privately held parcels within the CBD boundary. However, city -held parcels must be billed
and paid directly by the City, and not via the County's property tax bills. As such, a budget resolution
should be adopted by the City to allocate funding for the 13 city -held properties in the amount of the
$49,066..96 in special assessment fees, that are due to the CBD this fiscal year. This allocation was
anticipatedand presented to the City Council as part of the establishment of the CBD, at the July 24tH
City Council meeting.
Once allocated, the funds will be transferred from the City's general fund, to an account that has been
established to hold all funds for the CBD, while its board and management corporation are formed, and a
payment schedule to transfer funds is established.
Economic Vibrancy
$49,066.96 shall be allocated from the General Fund to pay for city -held property special assessment
fees.
ATTACHMENTS
Attachment A — Resolution
A RESOLUTION OF i OF THE CITY OF DOWNEY AMENDING
THE FISCAL YEAR 118-19 BUDGET FOR THE EXPENDITUREOF i
$49,066.96 i` THE DOWNTOWN DOWNEY COMMUNITYDISTRICT
SPECIAL ASSESSMENT
WHEREAS, after a duly noticed public hearing and balloting procedure, the City Council
adopted Resolution No. 7829 on July 24, 2018 forming the Downtown Downey Community
Benefit District (CBD) to facilitate and encourage additional growth and revitalization in the
Downtown Downey area;
WHEREAS, Resolution No.7829`requires all property owners within the CBD to pay
special assessments based on the individual property characteristics; and
WHEREAS, it is necessary to amend the Fiscal Year 2018-19 Budget to allocate
an additional $49,066.96 from the General Fund to pay the City's CBD special assessment.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The following supplemental appropriations shall be added to the City's
2018-2019 Budget.
Dues and Membership (CBD Assessment): $49,066.96
SECTION 2. The City Clerk shall certify to the passage and adoption hereof.
APPROVED AND ADOPTED this 11th day of September, 2018.
SEAN ASHTON, Mayor
MARIA ALICIA DUARTE, CMC
City Clerk
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of
the City of Downey at a Regular Meeting held on the 11th of September, 2018, by the following
vote, to wit:
AYES:
Council Members:
NOES:
Council Member:
ABSENT:
Council Member:
ABSTAIN::
Council Member:
MARIA ALICIA DUARTE, CMC
City Clerk