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RESCIND RESOLUTION OF INTENTION TO RENEW THE MIRACLE MILE PROPERTY AND BUSINESS IMPROVEMENT DISTRICT
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RECOMMENDATION
It is recommended that the City Council adopt a Resolution to:
1. Rescind the Resolution of Intention to Renew the Miracle Mile Property and Business Improvement District adopted by the City Council on May 23, 2017, and
2. Authorize the City Manager to take necessary and appropriate actions to carry out the purpose and intent of the resolution.
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Summary
On May 23, 2017, a Resolution of Intention was adopted by the City Council to renew the MMPBID and to set a date for a public hearing, among other actions. It is now requested that the Resolution of Intention be rescinded and the ballots not be tabulated.
DISCUSSION
Background
On May 23, 2017, the City Council adopted Resolution No. 2017-05-23-1402 (attached as Exhibit I to the Resolution), stating their intention to renew the MMPBID, accepting petition of property owners, preliminarily approving the Management District Plan and Engineer’s Report, approving a proposed boundary map, setting a date for a public hearing of protests on July 25, 2017, providing for property owner ballots, and authorizing the City Manager to sign the ballot for all City-owned property which is proposed to be assessed in favor of the renewal of the MMPBID.
Present Situation
Staff now requests that the Resolution of Intention adopted by the City Council be rescinded and the votes not be tabulated, which will allow the Miracle Mile Improvement District (MMID) Board to continue discussions and modifications to its proposed Management District Plan. Should they decide to bring the renewal back for Council consideration, the MMID Board will need to re-petition the property owners within the Property-Based Improvement District (PBID) boundary. Per the PBID Law of 1994, if majority of the property owners (50% plus one) support the renewal as a result of the re-petitioning, then a new Resolution of Intention will be presented to the City Council for approval.
FINANCIAL SUMMARY
There is no negative financial impact to the City associated with this action.