Page 301 - FY 2021-22 Blue Book Volume 2

BUSINESS IMPROVEMENT DISTRICT TRUST FUND

BASIS FOR THE PROPOSED BUDGET

The 2021-22 Proposed Budget for the Business Improvement District Trust Fund relates to current year funding as
follows:

Amount % Change

2020-21 Adopted Budget $ 3,160,564

2021-22 Proposed Budget $ 3,383,341

Change from 2020-21 Budget $ 222,777 7%

The Business Improvement District Trust Fund was established by Mayor and Council (C.F. 96-0482) to provide
seed money for the formation of Business Improvement Districts (BIDs) and to pay assessments and General
Benefit obligations on City-owned properties within the boundaries of active BIDs. The seed money is used to retain
consultants who work on behalf of new or renewing BIDs to conduct feasibility studies and perform other activities
related to BID formation. The City’s BID policy allows up to $75,000 to be made available in the form of a grant for
feasibility studies. There are currently 40 established BIDs, nine BIDs in various stages of formation, and six in the
renewal process.

The proposed General Fund appropriation of $3,383,341 will fund the following items: 1) mandatory assessments
on City-owned property located within BIDs ($1,995,183), 2) General Benefit obligations ($1,216,679),
3) trash liners for the BIDs provided by the Board of Public Works Office of Community Beautification ($150,000),
and 4) assessments due from CRA/LA owned properties ($21,479).

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