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Resolution - 9233m • RESOLUTION NO. 9233 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA CONFIRMING THE ANNUAL REPORT FOR THE WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT AREA FOR FISCAL YEAR 1995-96 The City Council of the City of West Covina resolves as follows: . SECTION 1: The City Council proposes to levy and collect assessments within the West Covina Auto Plaza Business Improvement District Area ("Area") for Fiscal Year 1995-96. SECTION 2:. 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 designated Area. The proposed use of the assessment revenue collected will be used for financing the construction, operation, and maintenance of an electronic readerboard sign located in the West Covina Auto Plaza adjacent to the San Bernardino Interstate 10 freeway. SECTION 3: The boundaries and location of the Area are set forth in Attachment No. I and incorporated herein by reference. The boundaries are not proposed to change. The improvements and activities to be financed are set out in Attachment No. 2. SECTION 4 The Advisory Board for the District filed with the City Clerk an Annual Report pursuant to the Parking and Business Improvement Area Law of 1989 (Streets and Highways Code Section 36500, et seq.) which describes the proposed improvements and activities authorized by Ordinance No. 1923. The Annual Report is attached as Attachment No. 2 and incorporated herein by reference. SECTION 5: On June 6, 1995, the City Council adopted a Resolution of Intention to levy assessments within the District for Fiscal Year 1995-96, and set the date for a public hearing to be held on June 20, 1995. . SECTION 6. The Annual Report recommends an assessment of $11,945 for each of the six auto dealerships within the District for Fiscal Year 1995-96. SECTION 7. The City Council confirms the Annual Report for the District for Fiscal Year 1995-96. SECTION 8. The City Clerk shall give notice by mailing a complete copy of this resolution by first-class mail to each business owner in the Area within seven (7) days after the Council's adoption of this resolution. SECTION 9. SECTION 10. This resolution shall take effect immediately upon adoption. The City Clerk shall certify to the adoption of this resolution. A P208J M. doc 40 APPROVED AND ADOPTED by the City Council of the City of West Covina at a regular meeting thereof held on the 20th day June 1995. ATTEST: City Clerk I HEREBY CERTIFY that the foregoing Resolution No. 9233 was duly adopted by the City Council of the City of West Covina at a regular meeting thereof held on the 20th day of June 1995, by the following vote: AYES: Manners, McFadden, Touhey, Wong, Herfert NOES: None ABSENT: None ABSTAIN: None ,f APPROVED AS TO FORM: (C&� ,. &�Oru/ City Attorney City Clerk A P208J M. doc ATTACHMENT NO. 1 • w Q WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT BOUNDARIES 5AA N165AN TOYOTA O —+ N155AW 15FRINAkDINO FWY JTNlAND N 5O p 9C z� m O KIP ONORM, AVE F F7 I . L N NOT TO SCALE REhDEiZ60AtZb 512N �o�aTloN Z kcay � 4�Oj�6E SITE LAND USE TAX ASSESSOR ID LOT SIZE 1 WEST COVINA TOYOTA 8478-007-25, 31 3.06 © AC 2 WEST COVINA NISSAN/ KIA 8478-007-28, 30, 34, 35, 38 8478-008-02, 11, 12, 14 4.42 © AC 3 SATURN 8478-007-36, 37 2.23 © AC 4 DODGE 8478-004-39 3.73 © AC 5 SOUTHLAND MOTORS 8478-004-40 4,16 © AC 6 LONGO MOTORS 8478-004-26 3.72 © AC A LA RONDE APTS 35 UNITS 8478-004-27 0.94 ©. AC AP 187.DOC ATTACHMENT NO. 2 WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT ANNUAL REPORT FOR FISCAL YEAR 1995-96 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 1995-96. Financing the construction, operation and maintenance of an electronic readerboard located in the West Covina Auto Plaza adjacent to the San Bernardino Interstate 10 Freeway. 3. Estimate of the cost of providing the improvements and the activities for Fiscal Year 1995-96. Gross estimated annual cost for financing the construction cost of the sign, insurance premium, maintenance, electricity, and programming is $64,137. A six month reserve representing an additional $24,390 results in a grand total cost of $88,257 (see Exhibit "A"). After crediting the surplus from Fiscal Year 94-95 (see Item 5 below), the net cost is $71,668 which amounts to an assessment of $1 1,945 for each of the six dealers in the business improvement district. 4. Method and basis of levying the assessment for Fiscal Year 1995-96. 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 1994-95. A surplus of $16,859 will be carried over from Fiscal Year 1994-95. 6. Amount of any contributions to be made from sources other than the assessments levied. None. AP206JM.doc ATTACHMENT NO. 2 EXH IB1T "A" WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT ASSESSMENT BUDGET FOR FISCAL YEAR 1995-96 OPERATING EXPENSES • Programming • Telephone • Electricity • Maintenance Contract • Sign Insurance • Permit Fee CAPITAL IMPROVEMENTS • Sign Payment SIX MONTH RESERVE FUND • Operating Expenses for 6 months FY 94-95 SURPLUS • Excess from Reserve Fund $3,000 $360 $30,000 $13,000 $2,400 $20 $48,780 Subtotal $15,357 $64,137 Subtotal $24,390 $88,527 Total Cost ($16,859) $71,668 Net Total Cost NET ANNUAL COST • Assessment per Dealer (Six Dealers) $11,945 AP206JM.doe