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Page 1 of 6 <br />Item #19 <br /> CITY COUNCIL AGENDA REPORT <br /> <br />January 21, 2025 <br />City Manager <br /> <br />TITLE: ACCEPT DOWNTOWN PLEASANTON PROPERTY AND BUSINESS <br />IMPROVEMENT DISTRICT FEASIBILITY REPORT AND ALLOCATE UP TO <br />$70,000 TO IMPLEMENT THE PBID FORMATION PROCESS FOR DOWNTOWN <br />PLEASANTON <br /> <br />SUMMARY <br />Under previous agreements with the Pleasanton Downtown Association (PDA), through which <br />the PDA manages the Downtown Pleasanton Business Improvement District (BID), the City <br />matches the annual Business Improvement District assessment. While staff anticipates the <br />2025 annual assessments will similarly be around $80,000, under a new one-year agreement <br />the City will provide matching funds up to 50 percent of the collected assessments. <br /> <br />Over the decades, it has become apparent the funding generated through the annual BID <br />assessment does not provide sufficient revenue to support the PDA in meeting the PDA’s and <br />City’s shared expectations to sustain and increase the vitality and economic health of the <br />downtown district. To that end, staff has been working with Civitas Advisors for the past four <br />months to evaluate the current Downtown Pleasanton Business Improvement District structure <br />and the feasibility of a Property & Business Improvement District (PBID) as Phase 1 of the <br />project. It is anticipated that creating a PBID would generate significantly more revenue than <br />the approximately $80,000 provided through the current assessment. <br /> <br />RECOMMENDATION <br />Accept Downtown Pleasanton Property and Business Improvement District Feasibility Report <br />and Allocate up to $70,000 to Implement the PBID Formation Process for Downtown <br />Pleasanton. <br /> <br />BACKGROUND <br />In August 2023, the City Council adopted the updated Economic Development Strategic Plan <br />(Plan). The five-year plan is comprised of five implementation plan priorities: <br /> <br />1.0 Economic Development Capacity Building <br />2.0 Business Retention, Expansion & Attraction <br />3.0 Local Revenue Growth <br />4.0 Entrepreneurship & Innovation Outreach <br />5.0 Major Projects Accelerator Program <br /> <br />There are several action items under 3.0 Local Revenue Growth that are related to downtown <br />Pleasanton, specifically including: <br /> <br />3.2 Evaluate the Pleasanton Downtown Association’s Business Improvement District <br />Structure