Loading...
Resolution - 9347RESOLUTION NO. 9347 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 1996-97 • The CityCouncil of the City of West Covina resolves as follows: h' 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 1996-97. 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 is 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 as well as financing of the operation and maintenance costs for the entry statement to the Auto Plaza, which includes the sign and landscaping located at the southwest comer of Azusa Avenue and Garvey Avenue South. SECTION 3: The boundaries and location of the Area are set forth in Attachment No. 1 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 18, 1996, the City Council adopted a Resolution of Intention to levy assessments within the District for Fiscal Year 1996-97, and set the date for a public hearing to be held on July 2, 1996. SECTION 6. The Annual Report recommends an assessment of $13,148 for each of the six auto dealerships within the District for Fiscal Year 1996-97. SECTION 7. The City Council confirms the Annual Report for the District for Fiscal Year 1996-97. SECTION 8. This resolution shall take effect immediately upon adoption. SECTION 9: The City Clerk shall certify to the adoption of this resolution. . APPROVED AND ADOPTED by the City Council of the City of West Covina at a regular meeting thereof held on the 2nd day July 1996. •004a Na�,.w - Mayor ATTEST City Clerk 01 I HEREBY CERTIFY that the foregoing Resolution No. 9347 was duty Y adopted b the City Council of the City of West Covina at a regular meeting thereof held on the 2nd day of July , 1996, by the following vote: AYES: Herfert, Manners, McFadden, Wong, Touhey NOES: None ABSENT: None ABSTAIN: None APPROVED AS TO FORM: ap220.me 7/2/96 11 City Attorney U �LI City Clerk ATTACHMENT NO. 1 G • WEST COVINA AUTO PLAZA IMPROVEMENT DISTRICT BOUNDARIES saH Iu Q L5MAkt)INO PWY NOT TO SCALE RE?g7ElZ30ARD 516N �ocaTION ENTRY 516,W SITE LAND USE TAR 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 A DODGE EXPANSION SITE 8478-004-27 0.94 © AC 5 SOUTHLAND MOTORS 8478-004-40 4.16 © AC 6 LONGO MOTORS 8478-004-26 3.72 © AC AP2I8BI ATTACHMENT NO. 2 WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT ANNUAL REPORT FOR FISCAL YEAR 1996-97 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 1996-97. 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 as well as financing of the operation and maintenance costs for the entry statement to the Auto Plaza, which includes the sign and landscaping located at the southwest corner of Azusa and So. Garvey Avenues. 3. Estimate of the cost of providing the improvements and the activities for Fiscal Year 1996- 97. Gross estimated annual cost for financing the construction cost of the sign, insurance premium, maintenance, electricity, programming and seasonal color (landscape materials) is $71,077. A six month reserve representing an additional $27,860 results in a grand total cost of $98,937. After crediting the surplus from Fiscal Year 95-96 (see Item 5 below), the net cost is $78,889 which amounts to an assessment of $13,148 for each of the six dealers in the business improvement district. 4. Method and basis of levying the assessment for Fiscal Year 1996-97. 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 1995-96. A surplus of $20,048 will be carried over from Fiscal Year 1995-96. 6. Amount of any contributions to be made from sources other than the assessments levied. None. AP217B1 Page 1 of 2 ATTACHMENT NO. 2 WEST COVINA AUTO PLAZA BUSINESS IMPROVEMENT DISTRICT PROPOSED ASSESSMENT BUDGET . FOR FISCAL YEAR 1996-97 OPERATING EXPENSES READERBOARD ENTRY SIGN PROPOSED BUDGET • Programming $ 3,000 $-0- $ 3,000 • Telephone 360 360 • Electricity 30,000 1,200 31,200 • Maintenance Contract • Readerboard 13,000 13,000 • Entry Sign (3 years) 3,240 3,240 • Sign Insurance 2,400 2,400 • Permit Fee 20 20 • Taxes and Preparation Costs 1,000 1,000 • Color Changes (3 per year) 1,500 1,500 Subtotal $49,780 $5,940 $55,720 CAPITAL IMPROVEMENTS • Sign Payment 15,357 -0- 15,357 Subtotal $65,137 $5,940 $71,077 SIX MONTH RESERVE FUND • Operating Expenses for 6 24,890 2,970 27,860 months Total Cost $90,027 $8,910 $98,937 FY 94-95 SURPLUS • Excess from Reserve Fund (20,048) -0- (20,048) Net Total Cost $69,979 $8,910 $78,889 NET ANNUAL COST • Assessment per Dealer $11,663 $1,485 $13,148 Six Dealers AP216BI Page 2 of 2