AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 6/21/2017
TO: Honorable Mayor and City Council Members
FROM: Community Development Department
SUBJECT:
Title
City Council consideration to adopt Resolution No. 2017-050, adopting the Engineer's Report for the Corona Mall Business Improvement District for Fiscal Year 2017-2018 to increase the annual levy for the on-going maintenance of common parking lot and landscaping.
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RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Adopt Resolution No. 2017-050, adopting the Engineer's Report for the Corona Mall Business Improvement District for Fiscal Year 2017-2018.
2. Authorize the Assistant City Manager/Administrative Services Director to process all necessary expenditure and revenue budgetary adjustments based upon the adoption of the Engineer's Report.
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ANALYSIS:
The Corona Mall Business Improvement District (CM BID) was established on November 3, 2004, under City Council Resolution Number 2004-186 as a result of a negotiated deal with the Corona Mall property owners. The former Redevelopment Agency of the City of Corona agreed to pay for reconstruction costs of common areas in exchange for levying property owners to pay for the maintenance of said improved common areas. Under the law, the CM BID was established for an initial five year period, July 2005 through June 2010. Prior to the expiration of the CM BID, it was extended for an additional ten years, July 2010 through June 2020, in accordance with Proposition 218 levying procedures.
The CM BID levy shall be analyzed and approved annually if it is determined an increase in the annual assessment is necessary. Having made such determination, staff is requesting the City Council consider extending the CM BID levy for Fiscal Year 2017-2018. In accordance with the Engineer's Report and the extension procedures approved for the CM BID, the levy may be increased annually based on the consumer price index for Riverside County or ...
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