To: Mayor and City Council
From: City Staff
Subject: Recommendation to Approve Bayside District Corporation’s
Budget and Annual Work Program
This report recommends that the City Council approve the Bayside District Corporation’s Operations and Marketing Plan and Budget for FY 2005-06.
The Bayside Services Agreement dated December 3,
2004, calls for the Bayside District Corporation (BDC) to submit for Council
approval a Work Plan and Budget that describes BDC’s planned activities and
services, with a corresponding budget for the up-coming fiscal year. The Operations and Marketing Plan and Budget (“Work
Plan”) for Fiscal Year 2005-06 were approved by the BDC Board at its meeting
June 23, 2005, and are submitted to Council for its approval.
The Work Plan for FY 2005-06, Attachment 1, sets
forth the activities and programs BDC intends to undertake during the coming year.
Some of the programs and projects highlighted in the Work Plan are described
below:
Operations: Among its various
maintenance and capital improvement projects, BDC proposes to install LED tree
lighting along the Third Street Promenade, replace art banners, oversee the
transition of the vending cart program to a new operator, and replace alley
banners with metal branding disks. BDC proposes to research a program for
District “ambassadors” to provide additional customer service to Bayside
visitors. Also, BDC will be assisting
the City with implementation of Bayside Capital Improvement Projects that are
included in the City’s Capital Improvement Budget.
Marketing: BDC will initiate
a new branded advertising campaign that will expand into cable television,
organize and host special events including Winterlit,
and outreach to the community
through publication of the monthly Bayside
Beat and local business “spotlights” produced in cooperation with City TV.
There will be special emphasis in support of the grand opening of the
Venue and Performance Management: BDC staff will continue to manage street performance and free speech
participants and coordinate special events, promotions, and filming.
BDC’s budget for FY 2005-2006 anticipates revenues in
the amount of $961,900. Revenues include $620,900 granted by the City to BDC
for FY 2005-2006, plus $210,000 that the City will collect from the Central
Downtown Business District Improvement Area and pass through to BDC for Bayside
District marketing. BDC plans to
generate additional revenue through special events, filming revenue, interest
earnings and donations.
BDC’s budget is 7% more than the adopted budget for
Fiscal Year 2004-2005. The increase can be attributed to an increase in
assessments from the Central Downtown Business District, a 2% increase from the
City in its basic grant to help cover anticipated increases in BDC’s insurance,
and increased revenues from filming and special events permits as a result of
the fee increases approved by Council on June 21, 2005.
BDC’s budget allocates
expenditures in FY 2005-06 according to the following categories:
|
Personnel |
42% |
|
Administration |
17% |
|
Business Development |
5% |
|
Marketing/Promotions |
31% |
|
Operations/Maint./Contribution |
5% |
|
|
|
|
Total |
100% |
Approval of the Work Plan and Budget imposes no additional budget or financial impact on the City. City funding for the BDC in the amount of $620,900 is included in the City’s FY 2005-06 Adopted Budget at account # 30625.577070.
Staff recommends that the City Council approve the
Bayside District Corporation’s Operations and Marketing Plan and Budget for FY
2005-06.
Prepared
by: Jeff Mathieu, Director, Resource
Management Department
Miriam Mack, Economic Development Manager
Attachment
A -
Bayside District Corporation Operations and Marketing
Plan and Budget for FY 2005-06