REPORT TO COUNCIL
SUBJECT
Title
Approve the Downtown Sunnyvale Business Improvement District (BID) Annual Report for Fiscal Year 2023/24 and Adopt Resolution of Intention to Levy and Collect an Annual Assessment to Reauthorize BID for Fiscal Year 2024/25
Report
BACKGROUND
A Business Improvement District (BID) is a funding tool that allows participating businesses to pool their resources to fund specific activities in support of their business district. It must be authorized yearly by the City Council at the request of the BID Board (Board). Pursuant to Sunnyvale Municipal Code Section 3.60.050 (Establishment of benefit assessments), the formula for calculating the BID assessment amount is determined by the Board and enacted by the City. Business assessments are levied based on relative benefit from the activities to be funded. The City collects the assessment and forwards the collected funds to the BID, minus an administrative fee.
The BID assessment allows BID businesses to collectively pay for marketing and special events which would not be possible on an individual basis. In addition to the annual events, BID funds are used to promote the downtown area by maintaining an active website and strong social media presence.
Downtown Sunnyvale BID
Approximately 220 businesses are located within the BID area, which is divided into three zones: Zone A, Zone B and Zone C. The current BID boundaries are Sunnyvale, Iowa, Mathilda and Evelyn Avenues (Attachment 1, Page 11).
The current Board members are:
Dr. Gary Gold, Dr. Gary Gold & Associates & Style Eyes Optique, Chairman
Leigh Odum, Leigh's Favorite Books and Bookasaurus, Secretary
Amit Rajgarhia, Dish Dash, Treasurer
Katie Voong, Mayan Kitchen/K Tea Caf?
Salvatore Foresta, Sweet Sicily
Justin Breining, Whole Foods Market
Amal Allan, City National Bank
EXISTING POLICY
Sunnyvale Municipal Code Sections - Downtown Sunnyvale Business Improvement District
3.60.050. Establishment of benefit assessments.
3.60.060. ...
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