Fiscal Note
The 2016 Operating Plan for Madison's Central Business Improvement District anticipates expenditures of $427,000 $430,916 funded with a BID assessment of $266,390 $270,306 and $160,610 in other revenues. BID operations have no direct budgetary impact on the City.
Title
To approve the 2016 Operating Plan for Madison's Central Business Improvement District (#1).
Body
PREAMBLE:
Wisconsin State Statute 66.1109, often referred to as the "BID Law," authorizes cities to create Business Improvement Districts "to allow businesses within those districts to develop, to manage, and to promote the districts and to establish an assessment method to fund these activities."
Under 1999 Wisconsin State Statute 66.608 the City of Madison on December 7, 1999, created Madison Business Improvement District #1, known as Madison Central Business Improvement District, and adopted its initial operating plan.
The Madison Central Business Improvement District (#1) is governed by a Board of Directors, who are appointed by the Mayor and confirmed by the City Council.
The State enabling legislation requires that the Board of Directors of the BID annually consider changes to its operating plan and submit a revised operating plan to the local legislative body for approval. The BID Operating Plan contains a sunset clause requiring affirmative renewal of the District by property owner vote every 5 years. The District was last renewed in 2014 for a 2015-2019 term.
WHEREAS the Business Improvement District Board convened an annual meeting of property owners and businesses on July 28, 2015, to review the District's accomplishments and to obtain input for the development of its 2016 operating plan and budget; and
WHEREAS the Business Improvement District Board adopted the proposed 2016 Operating Plan at its September 3, 2015, meeting; and
WHEREAS there are no material changes between the 2015 and 2016 Operating Plans; and
WHEREAS the 2016 Operating Plan must be approved by November 2015 to allow for assessments to be shown on the 2016 tax roll.
NOW, THEREFORE, BE IT RESOLVED that the 2016 Operating Plan for Madison's Central Business Improvement District is approved.