Legislation Details

File #: HIST-3857    Version: 1 Subject:
Type: Historical Status: Action Item
In control: City Council Meeting Agenda
On agenda: 11/13/2006 Final action: 11/13/2006
Title: Consideration of the Downtown Culver City Business Improvement District Advisory Committee's Annual Work Program and Budget.
Attachments: 1. A-3__06_11_13_ CDD_ BID Notice of Intent - FINAL.doc, 2. A-3 Downtown Business.pdf
City of Culver City, California City Council Agenda Item Report RECOMMENDATION: Staff recommends the City Council (the “Council”) approve the Downtown Culver City Business Improvement District (“BID”) Advisory Committee’s annual Work Program and Budget for 2007 (the “Report”), and adopt a Resolution of Intention to conduct a public hearing on December 11, 2006 for the continuation of the Culver City Downtown BID. BACKGROUND: A BID provides a mechanism for businesses to levy assessments on themselves for the promotion of business activities and public events; decoration of public places; and the acquisition, construction, installation or maintenance of specific improvements. The BID allows Downtown businesses to be more self reliant, which reduces their dependency on the City of Culver City (the “City”) and Culver City Redevelopment Agency (the “Agency”). The BID Work Program is managed by the Downtown Business Association (the “DBA”) in accordance with a Management Agreement between the DBA and the City. The Management Agreement requires the DBA to maintain tax-exempt status with the Internal Revenue Service, maintain one million dollars of General Liability insurance, and submit quarterly reports and budget updates to the Community Development Director describing progress toward completing their approved work program. The DBA’s Tax documents, insurance and quarterly reports are attached for your information (Attachment Nos. 4, 5, 6 and 7). Meeting Date: 11/13/06 Item Number: A-3 AGENDA ITEM: Consideration of the Downtown Culver City Business Improvement District Advisory Committee’s Annual Work Program and Budget for the Continuation of the Downtown Business Improvement District. Contact Person/Dept.: Glenn Heald Phone Number: (310) 253-5752 Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [] Public Hearing: [] Action Item: [X] Attachments: [X] Public Notification: Meeting notification and copy of the annual Work Program and Budget mailed to all businesses located in the Downtown Business Improvement District (11/02/06); published in the Culver City News (11/02/06 & 11/09/06); Master Notification List (11/09/06). Department Approval: Susan Evans (11/01/2006) City Manager Approval: Jerry B. Fulwood (11/08/2006) City Controller Approval: Marlee Chang (11/07/2006)City of Culver City, California City Council Agenda Item Report In accordance with the legal process for renewing a BID, the Council is first required to review and approve the BID Advisory Committee’s Report during a public meeting. The Report describes any proposed changes in the BID boundaries, a description of activities to be undertaken (a work program), an estimate of the cost to provide the activities (a budget), the assessment formula, the amount of surplus/deficit to be carried over from the previous year, and the amount of other expected BID contributions. The City Council may modify any particular element contained in the report and approve it as modified. At the conclusion of the public meeting, the Council must adopt a Resolution of Intention (Attachment No. 1) to conduct a public hearing if the BID is to be continued for 2007. Upon completion of the public hearing, which has been tentatively scheduled for December 11, 2006, the Council must approve a final resolution to formally continue the BID. The public will be notified of the public hearing in accordance with State law. The BID was formed in September 1998, when the Council adopted Ordinance No. 98-011, in accordance with the Parking and Business Improvement Area Law of 1989 (the “Law”). The BID was amended in December 2000, when the Council rescinded Ordinance No. 98-011 and adopted Ordinance No. 2000-027. The new ordinance revised the BID assessment formula to increase the amount of the assessment and revised the BID Management Agreement to clarify ambiguous language in an attempt to streamline the administrative process. DISCUSSION: The following section describes BID accomplishments and delinquencies in 2006, and proposed BID activities and the BID assessment in 2007. BID Accomplishments in 2006 In 2006, the DBA used their assessments to fund the following: 2006 ACCOMPLISHMENTS MARKETING/EVENTS  Production of second annual Culver City Car Show in partnership with The Exchange Club. City of Culver City, California City Council Agenda Item Report  Continuing expansion of Website with additional features including “Downtown Lowdown” email newsletter, expanded Calendar and personalized feature boxes with photos on Downtown businesses.  Sponsorship of Summer Sunset Music Festival and promotional table at each concert. DESIGN/IMPROVEMENTS  Replacement and maintenance of Culver Boulevard decorative tree lights in response to termination of previous Agency contract.  Replacement and refurbishment of all Holiday street ornaments.  Meetings with Agency on implementation of Outdoor Directory project and initiation of graphic, fabrication and lighting design. ADMINISTRATION  Contract with Urban Place Consulting Group for services as Interim Executive Director in order to carry out day to day Administrative responsibilities.  Rental of office and purchase of office equipment for greater staff efficiency and Downtown physical presence.  Supplemental payment to Executive Director in addition to Agency grant and total payment assumed upon sunset of grant funding.  Retained Urban Place Consulting services for research and feasibility study for possible Property Business Improvement District (PBID) creation to replace current BID and increase services to District through increased funding. BID Delinquencies in 2006 During 2006, there were 123 businesses subject to the BID assessment. Of these, the assessment was collected from 101 businesses (81.81%). The total amount collected was approximately $46,119. The remaining 22 businesses are delinquent. If payment is not received after a final notice, a claim will be forwarded to the City Attorney’s Office and will be sent to small claims court. BID Activities in 2007 In October the BID Advisory Committee filed the proposed 2007 Work Program and Budget (Attachment No. 6) with the City Clerk. The Advisory Board proposes the following activities within their Work Program for 2007: City of Culver City, California City Council Agenda Item Report MAINTENANCE  Implementing a sidewalk maintenance program: o Personnel to sweep litter, debris and refuse from sidewalks, alleys (paseos) and gutters of the District. o Power wash sidewalks within the District on a regular schedule throughout the year.  Graffiti and handbill removal program: o Graffiti is removed by painting, using solvent and pressure washing. o Paper signs and handbills will also be removed by hand or when necessary by pressure washing.  Landscape Program: o Weed Abatement in planters and sidewalks o Trash and debris will be removed from planting areas o Limited Plant Replacement program, plants will be replaced within limited budget. o All green spaces to be watered and maintained on a regular basis. COMMUNICATION/IMAGE  Continuing a program of branding and promoting Downtown businesses and community activities in the media.  Continuing to develop marketing partnerships with established and new downtown business  Continued upgrading of website with greater services, information and linkage provided.  Replacement and maintenance of year round Culver Blvd. decorative tree lights.  Continuing maintenance of previously purchased Holiday ornaments ADVOCACY & ADMINISTRATION  Proactive communication with City on violations of existing codes in relation to aesthetics and safety of facades and streetscape. City of Culver City, California City Council Agenda Item Report  Coordination between City Sanitation Division and businesses to improve current district dumpster/trash problems. Work to include increasing the quantity of dumpsters as well as improving the maintenance of trash compactors and dumpsters. Additionally, a program to provide more frequent emptying of dumpsters and trash receptacles will be developed.  Actively working with the City to develop additional funding to increase the maintenance and landscape efforts in downtown.  Fundraising effort will be explored to continue programs such as the Culver Card, Holiday Tree Lighting and other programs deemed important to the success of downtown.  Day to day management of maintenance and communication programs  Interacting with the City to insure timely assessment billing and payment The Downtown Business Advisory Committee adopted this report on Monday, October 16, 2006, in a publicly noticed meeting. During this meeting staff had the opportunity to ask questions and discuss how the various activities could be implemented and funded without duplicating either the City/Agency or DBA’s efforts. BID Assessment in 2007 The proposed activities will primarily be funded through the assessment, which applies to Downtown businesses as follows: Business Type City Business License Code Annual BID Fee TYPE A Retail 1-1000 sq. ft. 036-144, 396, 399, 402 $300 Retail 1001-2500 sq. ft. $500 Retail 2501-5000 sq. ft. $750 Retail > 5000 sq. ft. $1000 Hotel 456, 480 $1500 Restaurant 0-50 seats 390, 654-690 $1000 Restaurant 51-100 seats $1500 Restaurant > 100 seats $2000 Computer Graphics & Computer Services 152, 200 $500 Martial Arts Studio, Health Studios, Hair Salon 0-25,000 sq. ft. 744, 276 $500 > 25,000 sq. ft. $1000City of Culver City, California City Council Agenda Item Report TYPE B Theaters 858 $2 per seat Live Performance 858 $1 per seat TYPE C All others, not listed $300 TYPE D Banking Institutions 0-7500 sq. ft. 342 $1000 Banking Institutions > 7500 sq. ft $1500 Film Studios 490, 498 $1000 Recording Studios 554 $1000 Utilities $1000 Hospitals > 20,000 sq. ft. 780 $2000 Hospitals and Clinics < 20,000 sq. ft. $1000 TYPE E Commercial Rentals 432 < 5,000 $1000 5,001-15,000 $1500 15,001-25,000 $2000 25,001-35,000 $2500 Over 35,000 $3000 FISCAL ANALYSIS: The BID’s quarterly financial statements for 2006 are attached for your information. These financial statements describe activities undertaken and funds expended during their fiscal year. As previously stated, funds from the 2007 BID assessment will be used for business enhancement, design and design activity and other items in accordance with the Law. During 2007, the BID anticipates assessment revenues of $121,367 and carry-over funds in the amount of $5,000. The DBA now funds the salary of the Executive Director (this was previously subsidized by the Agency). The fiscal impact to the City for the approval of the BID Annual Work Program is the cost related to staff time associated with this process. City of Culver City, California City Council Agenda Item Report ATTACHMENTS: 1. Resolution of Intention; 2. 2007 BID Work Program and Budget; 3. Internal Revenue Service tax-exempt certification; 4. DBA Certificate of General Liability Insurance; 5. Summary of 2006 4 th Quarter Accounts Payable; and 6. DBA quarterly financial statements. MOTION: That the City Council: 1. Approve the 2007 BID Advisory Committee’s Annual Work Program and Budget as filed with the City Clerk; and 2. Approve the Resolution of Intention to set December 11, 2006, as the date for a public hearing to consider the continuation of the Downtown Culver City Business Improvement District. MEETING DATE: 11/13/06 AGENDA ITEM: Consideration of the Downtown Culver City Business Improvement District Advisory Committee's Annual Work Program and Budget for the Continuation of the Downtown Business Improvement District. ATTACHMENTS Pages 1. Resolution of Intention 1-3 2. 2007 BID Work Program and Budget 4-8 3. Internal Revenue Service tax-exempt certification 9-10 4. DBA Certificate of General Liability Insurance 11-12 5. Summary of 2006 4 th Quarter Accounts Payable 13-14 6. DBA quarterly financial statements 15-201|1010101010101010 10 10|. 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 2006-R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CULVER CITY, CALIFORNIA, DECLARING ITS INTENTION TO CONDUCT A PUBLIC HEARING TO CONSIDER CONTINUATION OF THE DOWNTOWN CULVER CITY BUSINESS IMPROVEMENT DISTRICT ON DECEMBER 11, 2006. WHEREAS, the Parking and Business Improvement Area Law of 1989 (California Streets and Highway Code, sections 36500 et seq. (the "Act") authorizes cities to establish parking and business improvement areas for the purpose of imposing assessments on businesses for certain purposes; and WHEREAS, the City established by Ordinance No. 98-011 the Downtown Culver City Business Improvement District (the "District"); and WHEREAS, on November 13, 2006, the City approved the District's Annual Report (work program and budget), prepared by the Culver City Business Improvement District Advisory Committee; and WHEREAS, businesses in the District have requested the City Council to reauthorize continuation of the District for the year 2007. NOW, THEREFORE, the City Council of the City of Culver City DOES HEREBY RESOLVE as follows: 1. Pursuant to the provisions of the Act, the City Council declares its intent to consider the continuation for the year 2007 of a Parking and Business Improvement Area named the Downtown Culver City Business Improvement District. 2. The proposed boundaries of the District are set forth in Exhibit "A," which is attached hereto and incorporated herein by reference, and are the same as thosecontained in Ordinance No. 2000-027, which replaced Ordinance No. 98-011 (ordinance that established the District). 3. The improvements and activities proposed for the District shall be funded by the levy of assessments on businesses within the District boundaries and may include, but are not limited to, the following: a. General promotion of business activities within the District; b. Promotion of public events which benefit businesses in the District and which take place on or in public places within the District; c. Decoration of any public place within the District; and d. Acquisition, construction, installation or maintenance of improvements identified in section 36510 of the Act. 4. The City Council intends to levy assessments on businesses located within the boundaries of the District, in the amounts and on the business classifications set forth in Exhibit "B," which is attached hereto and incorporated by reference as though fully set forth herein. The levy assessments are set forth in Ordinance No. 2000-027. 5. Except where funds are otherwise available, an assessment to pay for all specified improvements and activities within the District will be used to fund the activities and improvements shown on Exhibit "C," attached hereto and incorporated herein, which are also described in the Report to the City Council on file with the City Clerk that was prepared by the Culver City Downtown Business Association. 6. Businesses commenced during the year following the renewal of the District shall not be exempt from such assessments, but shall be assessed the appropriate amounts as listed on Exhibit "B" in a prorated format based upon the number of whole months remaining in the assessment period. -2-|101010101010101010 10 10|11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28OL A. SCHWAB, City Attorney 7. The City Council shall hold a public hearing on the 11th day of December 2006, at 7:00 p.m., or as soon thereafter as this matter may be heard, in the Council Chambers at 9770 Culver Boulevard, Culver City, California. 8. The City Clerk shall certify to the passage of this Resolution and cause the same to be published once in a daily newspaper of general circulation in the Culver City area, not less than seven days before the hearing. APPROVED and ADOPTED this day of 2006. GARY SILBIGER, MAYOR City of Culver City, California ATTEST: APPROVED AS TO FORM:|101010101010101010 10 10|11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 CHRISTOPHER ARMENTA, City Clerk A06-00676 -3-Mce Culver City Downtown Business Association PO Box 1322 Culver City, CA 90232 Memo 10/16/06 To : The Honorable Mayor Silbiger : The Honorable City Council Members : All Downtown Businesses Enclosed please find the Downtown Culver City B.I.D. Work Program report and proposed Budget for 2007. Also please find enclosed for your interest a list of the DBA Board's recommendations for the B.I.D. Advisory Committee for 2007. We ask your review and approval For more information on this agenda item, please contact Glenn Heald in the community Development Division: 310 253-5752 Andrew Weissman Chairman Culver City Downtown B.I.D. Advisory CommitteeDowntown Culver City-Business Improvement District- Report of Proposed Year 2007 Work Program and Budget The Downtown Culver City Business Improvement District Advisory Committee ("Advisory Committee") is pleased to present its Proposed Year 2007 Work Program and Budget. This report is prepared in accordance with the requirement of Culver City Ordinance No. 98-011, which established the Downtown Culver City Business Improvement District ("DCCBID"), the Business Improvement District Management Agreement between the City of Culver City (City") and the Culver-City-Downtown_Business Association ("CCDBA"), and the Streets and Highways Code, section 36533. The Advisory Committee does not propose any changes to the Advisory Committee structure, nor to the boundaries of the parking and business improvement area. A map illustrating BID boundaries is included as Exhibit A. The Advisory Board recommends changes to the assessment schedule as follows: Business Type City Business License Code Annual BID Fee TYPE A Retail 1-1000 sq. ft. Retail 1001-2500 sq. ft. 036-144, 396, 399, 402 $300 $500 Retail 2501-5000 sq. ft. $750 Retail > 5000 sq. ft. $1000 Hotel 456, 480 $1500 Restaurant 0-50 seats 390, 654-690 $1000 Restaurant 51-100 seats $1500 Restaurant > 100 seats $2000 Computer Graphics & Computer Services 152, 200 $500 Martial Arts Studio, Health Studios, Hair Salon 0-25,000 sq. ft. 744, 276 $500 > 25,000 sq. ft. $1000 TYPE B Theaters 858 $2 per seat Live Performance 858? $1 per seat TYPE C All others, not listed $300 TYPE D Banking Institutions 0-7500 sq. ft. 342 $1000 Banking Institutions > 7500 sq. ft $1500 Film Studios 490, 498 $1000 Recording Studios 554 $1000 Utilities $1000 Hospitals > 20,000 sq. ft. 780 $2000 Hospitals and Clinics <20,000 sq. ft. $1000 TYPE E Commercial Rentals 432 <5,000 $1000 5,001-15,000 $1500 15,001-25,000 $2000 25,001-35,000 $2500Over 35,000 $3000 The DCCBID's activities and estimated costs for the coming year are set forth in Exhibit "B" Proposed year 2007 Work Program Budget. All funds collected are used for the BID activities to implement the "Downtown Culver City 4 Points Program", modeled after the "Main Streets 4 Points Program". Note: 1. Fee for individual business owners with multiple business licenses/operations at the same address will be based on the single highest category. 2. Business owners with multiple business locations within the BID area will be assessed separately at each location. 3. Commercial rentals will be assessed for each building location, not each tenant space 4. Multiple independent business owners at the same address will be assessed separately at their respective rates. (c,The Advisory Board proposes the following Work Program for 2007: MAINTENANCE implementing a sidewalk maintenance program: o Personnel to sweep litter, debris and refuse from sidewalks, alleys (paseos) and gutters of the District. O Power wash sidewalks within the District on a regular schedule throughout the year. • Graffiti and handbill removal program: o Graffiti is removed by painting, using solvent and pressure washing. o Paper signs and handbills will also be removed by hand or when necessary by pressure washing. • Landscape Program: o Weed Abatement in planters and sidewalks o Trash and debris will be removed from planting areas o Limited Plant Replacement program, plants will be replaced within limited budget o All green spaces to be watered and maintained on a regular basis. COMMUNICATION/IMAGE Continuing a program of branding and promoting Downtown businesses and community activities in the media. • Continuing to develop marketing partnerships with established and new downtown business • Continued upgrading of website with greater services, information and linkage provided. • Replacement and maintenance of year round Culver Blvd. decorative tree lights. • Continuing maintenance of previously purchased Holiday ornaments ADVOCACY & ADMINISTRATION • Proactive communication with City on violations of existing codes in relation to aesthetics and safety of facades and streetscape. • Coordination between City Sanitation Division and businesses to improve the district dumpster/trash issue. Work to include increasing the quantity of durnpsters as well as improving the maintenance of trash compactors and dumpsters. Additionally, a program to provide more frequent emptying of dumpsters and trash receptacles will be developed. • Actively working with the City to develop additional funding to increase the maintenance and landscape efforts in downtown. • Fundraising effort will be explored to continue programs such as the Culver Card, Holiday Tree Lighting and other programs deemed important to the success of downtown. • Day to day management of maintenance and communication programs • Interacting with the City to insure timely assessment billing and payment 4BID ADVISORY BOARD RECOMMENDATIONS-2007 KEN CHERNUS/PROPERTY OWNER DEBBIE WEISS/PROPERTY OWNER HEIDI FAHRINGER/BUSINESS OWNER STU FREEMAN/PROPERTY OWNERS ANDREW N. 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GRAND AVE STE 210 CA LIC COMBS EL SEGUNDO CA 90245-1768 PHONE: 3/ 0-3224301 FAX: 510-3224302 DATE EFFECTIVE TIME TX DATE EXPIRATION Tum SEP 27 06 12:01 MA PM NOV 27 06 X 12:01 AM NOON THIS BINDER IS ISSUED TO EXTEND COVERAGE IN THE ABOVE NAMED CONEANY PER EXPIRING POLICY* CODE SUB CODE Acmcy mmrumm-|1010|DESCRIPTION OF OPERATIONSNF_HICLES/PROPERTY (Including Losstion) BUSINESS ASSOCIATION ND010366313D INSURED CULVER CITY DOWNTOWN BUSINESS ASSOCIATION P.O. BOX 1322 CULVER CITY CA 90232 COVERAGES umrrs TYPE OF INSURANCE COVERAGE/FORJAS I DEDUCTIBLE 1 COINS % *MOUNT PROPERTY CAUSES OF LOSS NOT INCLUDED BASIC i dEIROAD f (SPEC GENERAL UABIUTY NON PROFIT DIRECTORS & OFFICERS LIABIUTY SUBJECT TO A $O PER CLAIM DEDUCTIBLE FULL PRIOR ACTS PIETRO DATE FOR CLAIMS MADE EACH OCCURRENCE $ 1400,00 COMMERCIAL GENERAL LIABILITY DAMAGE TO RENTED PREMISES *KW INCLUDED x 1 CLAIMS MADE I I OCCUR. MEDICAL EYPENSE (AIIT me Pergon) *401T INCLUDED NON PROFIT D&O PERSOMAL a ADVINJURY- SNOTINCLUDED GENERAL AGGREGATE $ 1,000,000 PRODUCTS COMPIOP AGO *JOT INCLUDED AUTOMOBILE LIABIUTY ANY AUTO AU- OWNED AUTOS SCHEDULED AUTOS HIRED AMOS / NON-OWNED AUTOS NOT INCLUDED H UNINSURED COMBINED SINGLE LIMIT . , $ BOOST INJURY(Per person) $ BODILY INJURY (Par =MN) s $ . PROPERTY DAMAGE _ MEDICAL PAYMENTS $ PERSONAL INJURY PROT $ MOTORIST $ AUTO PHYSICAL DAMAGE DEDUCTIBLE COLLISION: . I ALL VEHICLES t _ 'SCHEDULED VEHICLES NOT INCLUDED ACTUAL CASH VALUE $ STATED AMOUNT 011-ER THAN COIL: OTHER _ GARAGE UABILITY ANY AUTO NOT INCLUDED AUTO ONLY - EA ACCIDENT S OTHER THAN AUTO ONLY: EACH ACCIDENT $ F AGGREGATE S EXCESS LIABILITY UMBRELLA FORM OTHER THAN UMBRELLA FORM NOT INCLUDED RE1RO DATE FOR CLAIMS MADE: EACH OCCURENCE $|1010|$ AGGREGATE . _ SELF-INSURED RETENTION . WORKER'S COMP ENSAT/ON AND EMPLOYER'S LABILITY NOT INCLUDED • IWC STATUTORY UMITS - EL EACH ACCIDENT 3 EL DISEASE - EACH EMPLOYF-E EL DISEASE - POLICY UMIT SPECIAL SUBJECT TO CARRIER'S TIMELY RECEIPT OF THE PREMIUMfif CONDITION& OTHER COVERAGES FEES 3 TAXES $ ESTIMATED TOTAL PREMIUM $Crzt 26 06 04:33p Pe ge Hernandez 530 273 6539 P.2 CULVCIT-01 HEPE ACORD CERTIFICATE OF LIABILITY . INSURANCE DATE IMMIODNYYY) 10/2612006 PRODUCER (530) 273-7213 Acordia of California Insurance Services, Inc. CA DOI LIC #0352275 P0 Box 1106 Grass Valley, CA 95945-4701 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. INSURERS AFFORDING COVERAGE NAIC # INSURED Culver City Downtown Business Assoc. P.O. Box 1322 Culver City, CA 90232- INSURER A: U.S.L1 INSURER B: INSURER C: INSURER 0: INSURER E: THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POUCY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TONI. THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR ADDI. POLICY EFFECTIVE POLICY EXPIRATION LTR NSRO TYPE OF INSURANCE POLICY NUMBER DATE IMMIDD/TY) DATE IMM/DONYI LIMITS GENERAL LIABILITY EACH OCCURRENCE 5 ___ DAMAGE '10 RENTED COMMERCIAL GENERAL LIABILITY PREMISES (Ea occurence) 3 1-----i CLAIMS MADE 1 I OCCUR MED EXP (Any one person) PERSONAL & ADV INJURY 5 GENERAL AGGREGATE $ GEN'L AGGREGATE LIMIT APPLIES PER: PRODUCTS -COMP/OP AGO S PRO- -1 POLICY JECT LOG AUTOMOBILE LIABILITY CON BRED SINGLE LIMIT ANY AUTO (Ea accident) ALL OWNED AUTOS BODILY INJURY SCHEDULED AUTOS (Pet person) HIRED AUTOS BODILY INJURY NON-OWNED AUTOS (Per accident) PROPERTY DAMAGE (Per accident) GARAGE LIABILITY AUTO ONLY- EA ACCIDENT S ANY AUTO EA ACC OTHER THAN $ AUTO ONLY: AGE 5 EXCESS/UMBRELLA UABIUTY EACH OCCURRENCE 5 IOCCUR / I CLAIMS MADE AGGREGATE --|1010|DEDUCTIBLE $ RETENTION 5 5 WORKERS COMPENSATION AND i WC STATU- jOTH- 5 TDRY LIMITS ER EMPLOYERS' LIABIUTY ANY PROPRIETOR/PARTNEMEXE-CUITVE EL. EACH ACCIDENT 5 EL DISEASE - EA EMPLOYEE 5 OFFICER/MEMBER ECLUDED? If yes, describe under SPECIAL PROVISIONS below EL DISEASE - POLICY LIMIT 3 OTHER A Directors & Officers 1D01036688D 912712006 9/2712007 Claims Made • $1,000,000 DESCRIPTION OF OPERATIONS I LOCATIONS I VEHICLES I EXCLUSIONS ADDED BY ENDORSEMENT I SPECIAL PROVISIONS *Proof of Insurance Only* 10 days' notice for nonpayment of premium • CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POUCIES BE CANCELLED BEFORE THE EXPIRATION City of Culver City 9770 Culver Blvd. DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN Culver City, CA 90232- NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER, ITS AGENTS OR R ENTATIVES. LZED REPRE TATIVE ---P44 AnnRn ,g onnimun ACORD CORPORATION 1013314‘ck,,oN.zk CC Downtown BID A/P Aging Summary As of October 25, 2006 Current 1 - 30 31 -60 61 - 90 > 90 TOTAL The Larkin Group 0.00 0.00 0.00 0.00 -2,400.00 -2,400.00 TOTAL 0.00 0.00 0.00 0.00 -2,400.00 -2,400.00 \%CC Downtown BID A/R Aging Summary As of October 2, 2006 Current 1 - 30 31 - 60 61 - 90 > 90 TOTAL TOTAL 0.00 0.00 0.00 0.00 0.00 0.0014k AvrnszA CC Downtown BID Profit & Loss January through March 2006 Jan - Mar 06 Ordinary Income/Expense Income 4000 • Income 4010 • Bid Income 41,000.00 4080 • Reimbursed Expenses 4081 • Contract Labor 9,007.00 Total 4080 • Reimbursed Expenses 9,007.00 4090 Miscellaneous Income 4091 • Interest income 1.03 Total 4090 • Miscellaneous Income 1.03 Total 4000 Income 50,008.03 Total Income 50,008.03 Expense BID Establishment 9,007.00 Void 0.00 8000 • Administration Expense 8012 • Contract Labor 10,500.00 8400 • Office Expenses 8420 • Bank Service Charges 12.00 8470 • Office Supplies 19.99 8480 • Rent 8482 • Office Rent 1,460.00 Total 8480 • Rent 1,460.00 Total 8400 • Office Expenses 1,491.99 8450 • Parking 120.00 Total 8000 • Administration Expense 12,111.99 Total Expense 21,118.99 Net Ordinary Income 28,889.04 Net Income 28,889.04CC Downtown BID Balance Sheet As of March 31, 2006 Mar 31, 06 ASSETS Current Assets Checking/Savings 1000 • Cash 1030 • BID Account2 - Bank of the West 1090 Petty Cash 1000 • Cash - Other 41,848.60 200.00 1.82 Total 1000 • Cash 42,050.42 Total Checking/Savings 42,050.42 Accounts Receivable 1200 • Accounts Receivable 9,007.00 Total Accounts Receivable 9,007.00 Total Current Assets 51,057.42 Fixed Assets 1700 Fixed Asset 1701 • Furniture & Fixtures 646.09 1702 • Computer Equipment 1,603.03 Total 1700 • Fixed Asset 2,249.12 Total Fixed Assets 2,249.12 TOTAL ASSETS 53,306.54 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 • Accounts Payable 730.00 Total Accounts Payable 730.00 Total Current Liabilities 730.00 Total Liabilities 730.00 Equity 3000 • Opening Balance Equity 5,867.79 3100 • Retained Earnings 17,819.71 Net Income 28,889.04 Total Equity 52,576.54 TOTAL LIABILITIES & EQUITY 53,306.54CC Downtown BID Profit & Loss April through June 2006 Apr-Jun 06 Ordinary Income/Expense Income 4000 • Income 4080 • Reimbursed Expenses 4081 Contract Labor 1,563.80 Total 4080 Reimbursed Expenses 1,563.80 4090 • Miscellaneous Income 4091 • Interest income 9.54 Total 4090 • Miscellaneous Income 9.54 Total 4000 • Income 1,573.34 Total Income 1,573.34 Expense 5000 • Marketing and Promotion Expense 5200 • Promotional Events 5216 • Summer Sunset 5200 • Promotional Events - Other Total 5200 • Promotional Events 0.00 2,500.00 2,500.00 Total 5000 • Marketing and Promotion Expense 2,500.00 8000 • Administration Expense 8012 Contract Labor 12,063.80 8200 • Insurance 770.00 8400 • Office Expenses 8480 • Rent 8482 Office Rent 730.00 Total 8480 • Rent 730.00 Total 8400 • Office Expenses 730.00 8450 Parking 180.00 8700 • Taxes 8710 • Franchise Tax Board Total 8700 • Taxes 10.00 Total 8000 • Administration Expense 13,753.80 Total Expense 16,253.80 Net Ordinary Income -14,680.46 Net Income -14,680.46 10.002,249.12 2,249.12 37,896.08 5,867.79 17,819.71 14,208.58 37,896.08 Total 1700 • Fixed Asset Total Fixed Assets TOTAL ASSETS LIABILITIES & EQUITY Equity 3000 • Opening Balance Equity 3100 • Retained Earnings Net Income Total Equity CC Downtown BID Balance Sheet As of June 30, 2006 Jun 30, 06 ASSETS Current Assets Checking/Savings 1000 • Cash 1030 • BID Account2 - Bank of the West 1090 • Petty Cash 1000 • Cash - Other 33,881.34 200.00 1.82 Total 1000 • Cash 34,083.16 Total Checking/Savings 34,083.16 Accounts Receivable 1200 • Accounts Receivable 1,563.80 Total Accounts Receivable 1,563.80 Total Current Assets 35,646.96 Fixed Assets 1700 • Fixed Asset 1701 • Furniture & Fixtures 646.09 1702 • Computer Equipment 1,603.03 TOTAL LIABILITIES & EQUITY 37,896.08CC Downtown BID Profit & Loss July through September 2006 Jul - Sep 06 Ordinary Income/Expense Income 4000 Income 4090 • Miscellaneous Income 4091 • Interest income 6.86 Total 4090 • Miscellaneous Income 6.86 Total 4000 • Income 6.86 Total Income 6.86 Expense 5000 • Marketing and Promotion Expense 5200 • Promotional Events 5214 Car Show 0.00 Total 5200 • Promotional Events 0.00 5400 • Website 5411 • Website Maintenance 1,010.00 Total 5400 • Website 1,010.00 Total 5000 • Marketing and Promotion Expense 1,010.00 8000 • Administration Expense 8012 • Contract Labor 10,500.00 8400 • Office Expenses 8430 • Postage and Delivery 89.10 8470 • Office Supplies 82.23 8480 • Rent 8482 Office Rent 1,460.00 8480 • Rent - Other 0.00 Total 8480 • Rent 1,460.00 Total 8400 • Office Expenses 8450 • Parking 8500 • Professional Fees Total 8000 • Administration Expense Total Expense Net Ordinary Income Net Income 1,631.33 180.00 20.00 12,331.33 13,341.33 -13,334.47 -13,334.472,249.12 2,249.12 22,161.61 -2,400.00 -2,400.00 -2,400.00 Total 1700•Fixed Asset Total Fixed Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 • Accounts Payable Total Accounts Payable Total Current Liabilities CC Downtown BID Balance Sheet As of September 30, 2006 Sep 30, 06 ASSETS Current Assets Checking/Savings 1000 Cash 1030 • BID Account2 Bank of the West 1090 • Petty Cash 1000 Cash - Other Total 1000 • Cash Total Checking/Savings Total Current Assets 19,710.67 200.00 1.82 19,912.49 19,912.49 19,912.49 Fixed Assets 1700 • Fixed Asset 1701 • Furniture & Fixtures 646.09 1702 • Computer Equipment 1,603.03 Total Liabilities -2,400.00 Equity 3000 • Opening Balance Equity 5,867.79 3100 • Retained Earnings 17,819.71 Net Income 874.11 Total Equity 24,561.61 TOTAL LIABILITIES & EQUITY 22,161.61 2_0