This resolution approves the annual reports for the Lower Polk Community Benefit District for the fiscal years 2018-2019 and 2019-2020. It is a requirement under California law and the district's agreement with the city.
Resolution receiving and approving annual reports for the Lower Polk Community Benefit District for Fiscal Years (FYs) 2018-2019 and 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 legislation originated from the requirement for the Lower Polk Community Benefit District to submit annual reports as mandated by the Property and Business Improvement District Law of 1994.
The Board adopted Resolution No. 177-14 expressing the City’s intention to establish the Lower Polk Community Benefit District.
The Board adopted Resolution No. 314-14 establishing the Lower Polk CBD for a period of 15 years, commencing FY 2014-2015.
The Board adopted Resolution No. 297-15 authorizing an agreement with the owners' association for the administration of the Lower Polk CBD.
The Board approved the Lower Polk CBD’s annual report for FY2017-2018 in Resolution No. 401-18.
Supervisor Peskin introduced the resolution to receive and approve the annual reports for FYs 2018-2019 and 2019-2020.
The committee recommended the resolution for approval.
The Board adopted the resolution receiving and approving the annual reports for the Lower Polk CBD for FYs 2018-2019 and 2019-2020.
The Mayor approved the resolution, finalizing the legislative process.
Reconstructed from attached documents & the official record
