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Resolution - 2021-61RESOLUTION NO. 2021-61 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA, CONFIRMING THE ANNUAL REPORT FILED BY THE WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT ADVISORY BOARD AND LEVYING AN ANNUAL ASSESSMENT FOR THE WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT FOR FISCAL YEAR 2021-2022 WHEREAS, in adopting the Parking and Business Improvement Area Law of 1989 (Streets & Highways Code sections 36500 et seq.), the California Legislature authorized cities to levy assessments on businesses in order to promote economic revitalization and tourism, create jobs, attract new businesses, and prevent erosion of business districts; and WHEREAS, on June 1, 1993, the City Council adopted Ordinance No. 1923, which established the West Covina Auto Plaza Business Improvement District ("District') for purposes of levying an assessment within the District to fund the construction, operation and maintenance of an electronic readerboard to be located adjacent to the I-10 freeway and benefit the West Covina Auto Plaza dealerships to be assessed. The District was established with one hundred percent (100%) property owner consent; and WHEREAS, on April 19, 1994, the City Council appointed the owners and/or their representatives of the auto dealerships located in the West Covina Auto Plaza as the advisory board of the District as required by Streets and Highways Code section 36530 ("Advisory Board"); and WHEREAS, on June 16, 2015, the Advisory Board modified the benefits zones within the District, increasing the number of benefit zones from six (6) dealership sites to seven (7) dealership sites. The boundaries and benefit zones of the District are set forth in Exhibit A, attached hereto and incorporated herein; and WHEREAS, the Advisory Board has caused the annual report for Fiscal Year 2021-22 required by Streets and Highways Code section 36533 to be prepared and filed with the City Cleric; and WHEREAS, the City Council has approved said annual report; and WHEREAS, the City Council proposes to levy and collect an assessment within the District for Fiscal Year 2021-22; and WHEREAS, on June 15, 2021, the City Council adopted Resolution No. 2021-60, a resolution of intention to levy the assessment within the District for FY 2021-22 and setting the date for a public hearing for July 6, 2021, in accordance with the requirements of Streets and Highways Code section 36534; and WHEREAS, the City Council has conducted a public hearing as required by Streets and Highways Code section 36535; and WHEREAS, the City Council now desires to confirm the annual report as filed by the Advisory Board and adopt this Resolution to levy the assessment for the 2021-2022 Fiscal Year. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. Annual Report. The City Council hereby confirms the annual report on the District as originally filed by the Advisory Board in accordance with Streets and Highways Code section 36535. The report shall be kept on file in the City Clerk's Office. SECTION 2. Assessment. An annual assessment for the District for Fiscal Year 2021-22 shall be levied pursuant to Streets & Highways Code sections 36500 et seq. The boundaries of the District are set forth in Exhibit A. The amount of the annual assessment is $16,524.00. Pursuant to Streets & Highways Code section 36531, new businesses commenced after the effective date of the resolution levying the assessment will be exempt from the levy of the assessment for Fiscal Year 2021-22. SECTION 3. Types of Activities to Be Funded. The assessment revenue collected through the levy of the annual assessment will be used for financing the operation and maintenance of an LED readerboard sign located in the West Covina Auto Plaza adjacent to the San Bernardino Interstate 10 Freeway as well as financing of the operation and maintenance costs for the entry monument to the Auto Plaza, which includes the sign and landscaping located at the southwest corner of Azusa Avenue and Garvey Avenue South. SECTION 4. Method and Basis of Levy. The method and basis of levying the assessment will be pursuant to Ordinance No. 1923, which was adopted by the City Council on June 1, 1993. SECTION 5. Certification; Effective Date. The City Clerk shall certify to the adoption of this Resolution and shall enter the same in the book of original resolutions and it shall become effective immediately. APPROVED AND ADOPTED this 6th day of July, 2021. Let Lo - d Mayor APPROVED AS TO FORM Tho as P. e City Attorney ATTEST - vowu5�i2 Lisa SIOTick Assistant City Clerk 1 I, LISA SHERRICK, ASSISTANT CITY CLERK of the City of West Covina, California, do hereby certify that the foregoing Resolution No. 2021-61 as duly adopted by the City Council of the City of West Covina at a regular meeting thereof held on the 6th day of July, 2021, by the following vote of the City Council: AYES: Castellanos, Diaz, Lopez-Viado, Tabatabai, Wu NOES: None ABSENT: None ABSTAIN: None Lisa S ick Assis t City Clerk EXHIBIT A WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT BOUNDARIES ATTACHMENT NO.2 WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT ANNUAL REPORT FOR FISCAL YEAR 2021-2022 1. Any proposed changes in the boundaries of the business improvement district area. None. 2. The improvements and activities to be provided for Fiscal Year 2021-2022. Financing the operation and maintenance of an LED readerboard sign located in the West Covina Auto Plaza adjacent to the San Bernardino Interstate 10 Freeway as well as financing of the operation and maintenance costs for the entry monument to the Auto Plaza, which includes the sign and landscaping located at the southwest corner of Azusa Avenue and Garvey Avenue South. Financing also includes landscape maintenance along Interstate 10 Freeway immediately facing and parallel to the Auto Plaza Dealerships. 3. Estimate of the cost of providing the improvements and the activities for Fiscal Year 2021-2022. Gross estimated annual cost for operating expenditures including programming, maintenance, electricity, and insurance for the readerboard sign, landscaping, landscape maintenance, taxes and preparation costs, is $71,155.10. The principal loan amount is $53,171.29 (paid in two installments), totaling $124,326.39 in annual expenditures. The Advisory Board voted to assess themselves $16,524.00 (the same as last year) which would generate $115,668.00 for FY 2021-22. As the annual expenditures increased, the assessments will not cover the total annual expenditures with a deficit of $8,658.39. The Advisory Board elected to utilize a portion of the fund balance of $106,052.70 to cover the deficit of $8,658.39 and to cover the required six (6) month operating reserve ($35,577.55). An assessment of $16,524.00 for each of the seven (7) dealership sites in the business improvement district will be placed on the tax rolls by the County of Los Angeles Department of Auditor -Controller. 4. Method and basis of levying the assessment for Fiscal Year 2021-2022. The method and basis of levying the assessment will be pursuant to Ordinance No. 1923, which was adopted by the City Council on June 1, 1993. 5. Amount of any surplus or deficit revenues to be carried over from Fiscal Year 2020- 2021. FY 2020-2021 is anticipated to have a deficit of $368.11. The Advisory Board elected to use a portion of the fund balance to cover the deficit. The anticipated fund balance starting for FY 2021-22 is $106,062.70. This includes the six (6) month operating reserve of $35,577.55. 6. Amount of any contributions to be made from sources other than the assessments levied. None. 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