Members of the volunteer group seeking to form Pacific Palisades' business improvement district (BID) approved key parts to its business management plan on Friday, March 22, including proposals for a boundary map, budget and programs and services to be provided.
According to Laurie Sale, volunteer spearheading the effort, the group seeks additional funds for the consulting firm drafting the BID. The firm estimates it will take the next two to four months to finalize the plans before submitting to the city clerk's office. Prior to the clerk's review, the group will have to campaign its cause, which needs to earn at least 51 percent of the "weighted vote."
Sale added that loan needed for the consulting firm will be repaid in the first year of the BID if it passes.
Every village district property owner will receive the tax assessment on their county tax bill if the BID is approved. Sale estimates that since the proposed Palisades BID won't make the assessor's tax rolls by August of this year, they should be able to do so in 2014 and start the BID by January 2015.
As of this January, about 50 Pacific Palisades property owners in the village district have shown interest in joining the BID.
A BID provides enhanced improvements and activities, such as security, maintenance, marketing and economic development, in addition to those provided by local government for a community's business sector. A property-based BID, such as the idea for Pacific Palisades' village, is based upon the "benefit assessment district" concept, which provides for an additional tax on commercial property to be raised within a specific geographic area. Proceeds are then directed back to the district to provide services.
Some approved proposed services for the village's BID includes street sweeping, pressure washing, landscaping, tree trimming and other sidewalk maintenance services, totaling $75,600 so far. The group has also budgeted $17,000 for administrative costs and $13,000 for marketing purposes.
Other items approved as proposed at the March 22 meeting include:
- Sale said they reviewed several assessment methodology formulas, but the group asked to see an additional formula. The formulas will be discussed at the group's next meeting on Friday April 12 8:30 a.m. at Steve's Deli on Swarthmore Avenue. Sale said they will vote on a methodology at that meeting.
- The annual assessment increase shall not exceed 3 percent.
- The term of the BID is five years.
For more information on Palisades' proposal, contact the Pacific Palisades Chamber of Commerce. See the proposed district boundary map with zoning attached to this post.
For more information on BIDs, read these frequently asked questions on the Los Angeles City Clerk website.