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Discussion Regarding Economic Development Public-Private Partnerships.
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Meeting Date: October 9, 2024
Contact Person/Dept: Elaine Warner, Office of Economic and Cultural Development
Phone Number: (310) 253-5777
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [x] Attachments: []
Public Notification: GovDelivery (10/7/2024)
Department Approval: Jesse Mays, Assistant City Manager (10/02/2024)
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Background/Discussion
The City engages in public private partnerships to advance Economic Development efforts throughout the community. These partnerships include coordination with business improvement districts, special assessment districts, private development companies and non-profit organizations.
Below is a partial list of the current public-private partnerships Economic Development oversees:
• Downtown Business Association Business Improvement District
o At the request of the Downtown Business Association (DBA), the City approved the formation of a formal Business Improvement District (BID) for downtown businesses to assess themselves for the purposes of advocacy, marketing, promotion and enhanced maintenance services. The DBA and City work together to ensure that the streetscapes are maintained, promote BID events and encourage economic development through a Memorandum of Understanding.
• Culver City Arts District Business Improvement District
o At the request of the Culver City Arts District (CCAD), the City approved the formation of a formal Business Improvement District (BID) for district businesses to assess themselves for the purposes of advocacy, marketing, promotion and enhanced maintenance services. The CCAD and City work together to ensure that the streetscapes are maintained, promote BID events and encourage economic development through a Memorandum of Understanding.
• West Washington Assessment Districts (1,2,3)
o The City formed three special assessment districts, by approval of area property owners, to provide for ongoing maintenance for new streetscape medians that were installed/enhanced and funded by the City/Former Redevelopment Agency. The City manages the maintenance of the medians and receives annual tax assessments from local property owners to fund specific improvements.
• Developer and Dispositions Agreements
o The City and Successor Agency to the Former Redevelopment Agency have entered into Disposition and Development Agreements (DDA) with private development companies for the purposes for developing certain previously owned City assets into catalytic projects for the community to include new commercial and affordable housing. The City currently has three active DDA’s relative to properties at the northly corners Washington Boulevard/Centinela Avenue, 9814 Washington Boulevard and 3527 Robertson Boulevard.
• The Center Theater Group and Kirk Douglas Theater
o The City has lease agreements with the Center Theater Group for use of the Kirk Douglas Theater, and The Actors’ Gang for use of the Ivy Substation, to bring cultural programming to the community. The partnership includes, among other things, a nominaln annual rental fee of $1 in exchange for minimum levels of theatrical production/activations and community access to the theaters for City events and local non-profit organizations.
• Westfield Tenants and Signage
o The City entered into an Owner Participation Aagreement (OPA) with Unibail-Rodamco-Westfiled that provided Redevelopment Agency funding for the revitalization of the former Fox Hills Mall into the new/improved Westfield Culver City. The agreement, until 2021, alloweds the City to review and approve tenants in the mallthe annual leasing strategy to ensure tenant composition met the thresholds outline in the OPA. The agreement also allows the and City to earn a revenue share for advertising income earned relative to three largeexterior signage signs that display products/businesses affiliated with the property.
Staff welcomes direction and recommendations for additional public-private partnerships to advance the City’s strategic goals.