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City of Missoula, Montana Item to be Referred to City Council Committee Committee: Administration and Finance Committee Item: Resolution levying assessments for the Business Improvement District Date: August 20, 2010 Prepared by: Marty Rehbein, City Clerk Initiated by: Marty Rehbein, City Clerk Action Required: Adopt a resolution Recommended Motion: I move the City Council adopt a resolution levying the taxes necessary to support the work plan and budget submitted by the Downtown Business Improvement District for fiscal year 2011. Timeline: Referral to committee: August 23, 2010 Committee discussion: September 1 or 8, 2010 Public hearing (if necessary): None Deadline: September 13, 2010 Background and Alternatives Explored: In 2005, the City Council created Downtown Business Improvement District in response to a petition submitted by downtown property owners. This past spring, the City Council extended the BID for an additional 10 years. The BID Board of Trustees submits an annual work plan and budget for the City Council's consideration. State law required the City Council hold a public hearing on the BID's proposed work plan and budget to hear any objections from property owners. The City Council has held the public hearing in conjunction with the city’s budget public hearing. On July 19, 2010, the City Council formally approved the BID’s work plan and budget on the consent agenda. The next step in the process is to levy the taxes on the district properties to defray the costs identified in the work plan and budget. If the City Council adopts the resolution to levy the final assessments, property owners will see the assessment on their property tax bills in November and May. Financial Implications: Staff are still developing the spreadsheet for each property’s assessment in the district. We'll present the spreadsheet showing the proposed assessments at the committee meeting. ---PAGE BREAK--- Attachments: Resolution Exhibit A