ECONOMIC VITALITY COMMITTEE AGENDA PACKET

Page 5 of 6 provided as Attachment 2. Pleasanton Downtown Association Board of Directors Feedback The feasibility process, draft service plan, and results were shared with the PDA board of Directors at its meeting on December 17, 2024. The PDA Board was asked for feedback on the draft service plan, particularly the services a PBID could provide and the level of assessments that could be raised by a PBID. Within the proposed PBID parameters, three assessment scenarios were prepared which include annual assessment rates for parcel types and corresponding budget categories for intended services (refer to pages 10-11 in Attachment 1). There was support from the PDA Board for Scenarios #2 or #3 as those would yield more funding than the current BID assessment collection, estimated at annual budgets of $209,444 and $314,166, respectively. Clarification on certain services the PBID could provide was requested since items such as enhanced maintenance would be in addition to what the City is currently providing and whether that level of service would be reduced given the City’s current financial constraints. Business Improvement District Structure Renewal Alternative If the City Council determines not to proceed with a PBID formation, staff will begin an evaluation toward the transition of the current business improvement district (BID) from the Parking and Business Improvement Area Law of 1989 to the 1994 law, as the 1994 law allows the district term to be formed for up to five years, which aligns with previous five-year terms of the City-PDA agreement. The initiation process would also be based on the submission of petitions signed by businesses that will pay at least 50 percent of the proposed assessment rather than by resolution adopted by the City Council. The calendar year 2026 would be the target for implementing a new or updated BID structure. As the partnership between the City and PDA is essential in the downtown’s success in stimulating economic growth, both parties will work collaboratively throughout the process. It is intended that completion of the project will identify priorities of stakeholders and focus on strengthening existing downtown businesses and attracting new businesses to create a balance of commercial offerings for the community. EQUITY AND SUSTAINABILITY Not applicable, as this item is a routine matter of City business. OUTREACH The feasibility report findings and draft service plan were reviewed by the Pleasanton Downtown Association Board of Directors at its December 17, 2024, meeting and the Economic Vitality Committee at its December 19, 2024, meeting. STRATEGIC PLAN ALIGNMENT Approval of this action advances the ONE Pleasanton strategic plan goal of Building a Community Where Everyone Belongs by ensuring the vibrancy of Pleasanton’s downtown as prioritized in the City's Economic Development Strategic Plan. FISCAL IMPACT The PBID feasibility study and anticipated expenses for formation are included in the Economic Development Division FY 2024/25 budget. The cost of the original five-month Phase