Laserfiche WebLink
8.A. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> July 28, 2014 <br /> SUBJECT <br /> Downtown Redwood City - Community Benefit Improvement District ( "CBID ") - <br /> Ordinance Forming CBID <br /> RECOMMENDATION <br /> 1. Hold a public hearing and consider oral and written testimony regarding the formation <br /> of a community benefit improvement district, and tabulate all assessment ballots <br /> returned to the City pursuant to procedures set forth in the Resolution of Intention; and <br /> 2. If the assessment balloting does not result in a majority protest, then waive first <br /> reading and introduce an Ordinance Forming the Downtown Redwood City Community <br /> Benefit Improvement District and Levying the Assessment in Connection Therewith. <br /> BACKGROUND <br /> Creation of a CBID is aligned with the City Council's economic development goals: <br /> Retain and support businesses Citywide for a strong, stable, and complimentary <br /> business mix; pursue a diversity of economic activity by enabling good business <br /> decisions; and continuing downtown development. <br /> CBIDs are an increasingly important tool for business districts as they provide an <br /> independent financing mechanism to fund essential services and activities. They are <br /> being adopted nationwide, with many districts located in the San Francisco Bay Area, <br /> such as Willow Glen (San Jose), Fisherman's Wharf (San Francisco), and Temescal <br /> (Oakland). In addition to CBID's allowing business districts to effectively compete with <br /> regional shopping centers that provide similar services to their tenants, CBIDs: <br /> • Are a unifying mechanism for all stakeholders to voluntarily work towards a <br /> common goal - that of a vibrant district. <br /> • Support businesses through recruitment, retention and promotion of the area. <br /> • Fund clean -up programs, enhanced landscaping and decorations, increased <br /> safety as well as public space development and management. Activation of <br /> downtown plazas is particularly relevant to Downtown Redwood City. <br /> • Effectively market and promote an area and organize events. <br />