THE DOWNTOWN VENTURA ORGANIZATION has easily sprinted over the first hurdle in its efforts to establish a Property-Based Business Improvement District. According to DVO Director Rob Edwards, more than 50 percent of the Downtown property owners have already returned petitions indicating they are in favor of the idea, the threshold needed to proceed.
As I explained in an earlier entry, a PBID allows a group of property owners to assess themselves a little more through their property tax bills. The money is collected by the county and returned to the non-profit group formed by the stakeholders to oversee expenditures in the district it covers.
It could be put to a myriad of uses such as security, clean-up, street plantings, signage, group marketing efforts or even special events designed to attract more customers Downtown. While the city provided one-time redevelopment agency money to the DVO for start-up costs, an ongoing funding source is needed. Since its inception three years ago, the DVO hired a director and has become a dynamic, nationally-recognized organization. In the past year it has won multiple advertising awards and was named Non-Profit of the Year by the Chamber of Commerce.
Our Downtown has blossomed under these efforts which are helping us gain a reputation as a tourist destination and not just a quick stop between Malibu and Santa Barbara.
Next up are public hearings on the PBID and ratification by the City Council. It then goes through a ballot process and Downtown property owners make the final decision. The PBID sunsets after five years at which time the stakeholders can choose whether or not to renew.
The plan has the full backing of our Chamber of Commerce.
Although it is not a done deal yet, Edwards said the quick and positive response from property owners is a good sign.
Congrats to the DVO and Edwards for all the hard work over the past year.
Having been through 2 of these assessment district boondoggles downtown in the past as a business owner and now as a landlord (I hope my tenant will be able to meet their new rent increase). Most of these improvements/benefits are the same old rehash of past BID'S, this is #4 I believe, with lots of duplication of city services that OUR tax dollars already fund and increased liability issues for property & business owners from trying to enforce some of the new "rules" downtown in this sue happy society. This one comes with a HUGE price increase over past BID'S, over $1,000.00 (up to a 5% COLA increase TOO!)a year for my property that I presume my tenant will have to pass along to YOU to fund in this wonderful economy, also my assessment value was incorrectly over valued this supposedly from the county tax records. The most direct beneficial part of the district for economic growth, "marketing & communication" programs only receives $68,875.00 16% & "economic develpoment" i.e. retail & office recuitment & retention receive the same $68,875.00 16% of the budget while "advocy & administration" costs i.e. managers & office support salary eats up $111,087.00 25%! of the budget of $442,737.00 to be collected and the duplication of city services and liability issues headed as "clean and safe programs" pulls in at $148,900.00 34% of the budget. I could go on concerning this subject but i beileve that this type of program should be business based to have the greatest and most EFFECTIVE impact for those involved. Ok I am ready for the arrow flinging now.
cheers.