This resolution approves the annual report for the Discover Polk Community Benefit District for the fiscal year 2019-2020, as required by state law and the district's agreement with the city. It ensures that the district's activities and finances are reviewed and acknowledged by the city.
Resolution receiving and approving an annual report for the Discover Polk Community Benefit District for Fiscal Year (FY) 2019-2020, submitted as required by the Property and Business Improvement District Law of 1994 (California Streets and Highways Code, Sections 36600, et seq.), Section 36650, and the District’s management agreement with the City, Section 3.4.
How it got here
The Discover Polk Community Benefit District's annual report for FY 2019-2020 was prompted by the establishment of the district and its management agreement with the City.
The Board adopted Resolution No. 171-18 expressing the City's intention to establish the Discover Polk Community Benefit District.
The Board adopted Resolution No. 238-18 officially establishing the Discover Polk CBD for a period of 10 years, commencing FY 2018-2019.
The Board adopted Resolution No. 402-18 authorizing an agreement with the owners' association for the administration of the Discover Polk CBD.
The Discover Polk CBD began collecting assessments and providing services as per the management agreement.
The Discover Polk CBD submitted its annual report for FY 2019-2020, which was reviewed by the OEWD staff.
Supervisor Peskin introduced the resolution to receive and approve the annual report for the Discover Polk CBD.
The Board adopted the resolution receiving and approving the annual report for the Discover Polk CBD for FY 2019-2020.
Reconstructed from attached documents & the official record
This resolution approves the annual report for the Discover Polk Community Benefit District for the fiscal year 2020-2021, as mandated by state law and the district's agreement with the city. It ensures compliance with reporting requirements for community benefit districts.
