Legislation Details

File #: HIST-9823    Version: 1 Subject:
Type: Historical Status: Action Item
In control: City Council Meeting Agenda
On agenda: 11/10/2008 Final action: 11/10/2008
Title: 1) Approval of the Downtown Culver City Business Improvement District Advisory Committee’s Annual Work Program and Budget; and 2) Adoption of a Resolution of Intention to Conduct a Public Hearing for Continuation of the Downtown Business Improvement District.
Attachments: 1. 1) Approval of the Downtown Culver City Business I - A-10_08-11-10 CDD SR DBA BID Notice of Intent - FINAL.doc, 2. 1) Approval of the Downtown Culver City Business I - Approval of Downtown Culver City Business Improvement District.pdf
City of Culver City, California City Council Agenda Item Report RECOMMENDATION: Staff recommends the City Council 1) approve the Downtown Culver City Business Improvement District (the “BID”) Advisory Committee’s annual Work Program and Budget for 2009 (the “Report”); and 2) adopt a Resolution of Intention to conduct a public hearing on December 8, 2008, for the continuation of the BID. BACKGROUND: The BID provides a mechanism for businesses to levy assessments on themselves for, among other things, the maintenance of public spaces and the acquisition, construction, installation and maintenance of specific improvements. The BID allows Downtown businesses to be more self reliant, which reduces their dependency on the City of Culver City and Culver City Redevelopment 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 (Attachment Nos. 3, 4, and 5). Meeting Date: 11/10/08 Item Number: A-10 AGENDA ITEM: 1) Approval of the Downtown Culver City Business Improvement District Advisory Committee’s Annual Work Program and Budget; and 2) Adoption of a Resolution of Intention to Conduct a Public Hearing for 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 (10/23/08); published in the Culver City News (10/30/08 & 11/06/08); Master Notification List (11/05/08). Department Approval: Sol Blumenfeld (10/22/08) City Attorney Approval: Carol Schwab (by H. Baker) (11/05/08) Chief Financial Officer Approval: Jeff Muir (by MVN) (11/03/08) City Manager Approval: Jerry B. Fulwood (11/05/08) 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 2009. Upon completion of the public hearing, which has been tentatively scheduled for December 8, 2008, 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: BID ACCOMPLISHMENTS 2008 Maintenance • Continuation of the DBA’s sidewalk maintenance and landscape program provided by the DBA Clean Team. • Coordination with City of Culver City to implement a Memorandum of Understanding (MOU) for downtown maintenance. The MOU transfers funding to the DBA to perform increased maintenance and landscape services in downtown. Beginning September 2008, the following services are being provided by the DBA per the MOU agreement: o A sidewalk maintenance program with the DBA Clean Team on the streets daily conducting the following services: sweep litter, debris and refuse from City of Culver City, California City Council Agenda Item Report sidewalks, alleys (paseos) and gutters of the District, empty sidewalk trash receptacles, sweep and pressure wash sidewalks, plaza, paseos, and alleys, parking structure entrances, landings and stairwells. Sweep and maintain areas around trash compactors, cleaning of street furniture (benches, bike racks, parking meters, mailboxes, and pay phones). DBA Clean Team on streets daily. o A Landscape Program that includes the following: weed abatement in planters, medians and sidewalks; trash and debris removed from planting areas; removal and replacement of dead vegetation; and trimming of bushes and shrubs. Plants and flowers are to be provided in planting areas and pots on an annual basis. • Coordination with City Sanitation Division and businesses to improve the District’s dumpster/trash issue. Worked to include possible increases in the quantity of dumpsters and trash receptacles as well as improved maintenance of trash compactors and dumpsters. Communication & Image • Established a “Marketing Committee” of the Board of Directors to develop programs for promoting downtown businesses and marketing partnerships with established and new downtown businesses. • Continued expansion of Website with features including “Downtown Lowdown” email newsletter, expanded Calendar, and personalized feature boxes with photos of Downtown businesses. • Maintenance of downtown LED twinkle lights. • Partnered with the City to purchase an artificial holiday tree with ”green” LED lights and decorations to be used for the annual Holiday Tree Lighting Ceremony. • Worked with the City to establish a holiday program and sought out sponsorship from downtown stakeholders for the holiday program. Advocacy & Administration • Contracted with Urban Place Consulting Group for services as Executive Director in order to carry out day-to-day administrative responsibilities. In September 2008, hired a new Executive Director to perform said services. • Partnered with the City to implement the Culver City Downtown Valet Parking Program in July of 2008. Continued management of the Culver City Downtown Valet Parking Program; working with City’s Engineering Division to determine best practices for a successful program. City of Culver City, California City Council Agenda Item Report • Established “Restaurant Committee” of the Board of Directors to develop and monitor programs related to valet parking, sanitation, maintenance and marketing of downtown businesses. • Expedited communication with the City regarding violations of existing codes in relation to aesthetics and safety of the downtown District. • Partnered with City of Culver City on advocacy issues such as outdoor dining standards, smoking regulations, recycling, and other initiatives that may impact the quality of life for businesses and all users of downtown Culver City. • Enhanced day-to-day management of maintenance and communication programs as well as constituency services. • Improved interaction with City to ensure timely assessment billing and payment. BID ASSESSMENTS 2008 During 2008, there were 147 businesses subject to the BID assessment. Of these, the assessment was collected from 135 businesses (91%). The total amount collected was approximately $122, 085. The remaining 12 businesses owe all or a portion of their assessment(s). If payment is not received after a final notice, a claim will be forwarded to the City Attorney’s Office for consideration of filing in small claims action court. BID ACTIVITIES PLANNED FOR 2009 In October the BID Advisory Committee filed the proposed 2009 Work Program and Budget (Attachment No. 2) with the City Clerk. The Advisory Board proposes the following activities within their Work Program for 2009: Maintenance The DBA Clean Team will perform increased downtown maintenance services per the Memorandum of Understanding (MOU) between the City of Culver City and Culver City Downtown Business Association. MOU services are separately funded by a separate agreement between the City of Culver City and the DBA. Other Work Plan items outside of Maintenance are not funded by MOU dollars. Downtown maintenance services, including both MOU agreed and DBA provided services, are as follows: • Sidewalk maintenance program: o Personnel sweep litter, debris and refuse from sidewalks, alleys (paseos) and gutters of the District. o Empty sidewalk trash receptacles throughout District twice per day on Friday, Saturday and Sunday. City of Culver City, California City Council Agenda Item Report o Sweep and pressure wash sidewalks, plaza, paseos, and alleys within the District on a regular schedule throughout the year o Monthly pressure washing of parking structure entrances, landings and stairwells. o Sweep and maintain areas around trash compactors. o Street furniture to be wiped and cleaned daily (benches, bike racks, parking meters, mailboxes, and pay phones). o DBA Clean Team on streets daily, 10am to 4pm (Sun-Thurs) and 1pm to 7pm (Fri and Sat). • Landscape Program: o Weed abatement in planters, medians and sidewalks. o Trash and debris will be removed from planting areas. o Removal and replacement of dead vegetation. o Trimming of bushes and shrubs. o Plants and flowers to be provided in planting areas and pots on an annual basis. • Graffiti reporting: o Graffiti is logged and reported immediately to the City Graffiti Removal Team for removal. o Paper signs and handbills will be removed Communication & Image • Maintenance of year-round Culver Blvd. decorative tree lights (twinkle lights). • Continued development of marketing partnerships with established and new downtown business. • Continued upgrading of website with greater services, information and linkage provided. • Continuing the distribution of the Downtown Lowdown, monthly e-newsletter. • Partner with the City of Culver City and the downtown business community to create a festive holiday atmosphere for downtown. • Partner with City of Culver City to produce the annual Holiday Tree Lighting Ceremony. Advocacy & Administration • Continue management of the Culver City Downtown Valet Parking Program; working with City of Culver City Engineering to determine best practices for a successful program. • Continue management of downtown maintenance program, including increased services set forth by the MOU agreement with the City of Culver City. City of Culver City, California City Council Agenda Item Report • Proactive communication with City on violations of existing codes in relation to aesthetics and safety of facades and streetscape. • Continuing coordination between City Sanitation Division and businesses to improve the District dumpster/trash issue. Work to include increasing the quantity of dumpsters and trash receptacles, as well as improving the maintenance of trash compactors and dumpsters. • Partner with City of Culver City on advocacy issues and initiatives that may impact the quality of life for businesses and all users of downtown Culver City. • Continue 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 Holiday Tree Lighting and other programs deemed important to the success of downtown. • Interacting with the City to insure timely assessment billing and payment. • Day to day communication of programs with DBA constituency. BID ASSESSMENTS 2009 The proposed activities will primarily be funded through the assessment, which applies to Downtown businesses at the rates shown below. 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 a 17 percent increase in assessment rates for 2009 which will support the ongoing management and implementation of increased programs that benefit all downtown businesses and users. This rate increase realizes a $21,000 budget increase and was calculated using the current year’s (2008) anticipated revenues and potential BID fees heading into 2009. 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. 036-144, 396, 399, 402 $ 351 Retail 1001-2500 sq. ft. $ 585 Retail 2501-5000 sq. ft. $ 877.50 Retail > 5000 sq. ft. $1170 Hotel 456, 480 $1755 Bar/Restaurant: Total Seats, both Indoor & Outdoor: 390, 654-690 0-50 seats $1170 51-100 seats $1755 > 100 seats $2340 City of Culver City, California City Council Agenda Item Report Computer Graphics & Computer Services 152, 200 $ 585 Martial Arts Studio, Health Studios, Hair Salon 744, 276 0-25,000 sq. ft. $ 585 > 25,000 sq. ft. $1170 TYPE B Theaters 858 $2.34/seat Live Performance 858 $1.17/seat TYPE C All others, not listed $351 TYPE D Banking Institutions 0-7500 sq. ft. 342 $1170 Banking Institutions > 7500 sq. ft $1755 Film Studios 490, 498 $1170 Recording Studios 554 $1170 Utilities $1170 Hospitals > 20,000 sq. ft. 780 $2340 Hospitals and Clinics < 20,000 sq. ft. $1170 TYPE E Commercial Rentals 432 < 5,000 $1170 5,001-15,000 $1755 15,001-25,000 $2340 25,001-35,000 $2925 Over 35,000 $3510 The DCCBID’s activities and estimated costs for the coming year are set forth in Exhibit “B” Proposed year 2009 Work Program Budget. All funds collected are used for BID activities which strengthen the business climate within the BID area, attract new investment and improve the quality of life for all downtown users. 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. City of Culver City, California City Council Agenda Item Report 4. Multiple independent business owners at the same address will be assessed separately at their respective rates. FISCAL ANALYSIS: The BID’s quarterly financial statements for 2008 are attached for your information. These financial statements describe activities undertaken and funds expended during their fiscal year. As previously stated, funds from the 2009 BID assessment will be used for business enhancement, design activity and other items in accordance with the Law. During 2009, the BID anticipates assessment revenues of $122,900.00 and carry-over funds in the amount of $ 36,016.67. The DBA now funds the salary of the Executive Director (this was previously subsidized by the Agency). There is no fiscal impact to the City for the approval of the BID Annual Work Program. ATTACHMENTS: 1. Resolution of Intention. 2. 2009 BID Work Program and Budget. 3. Internal Revenue Service tax-exempt certification. 4. DBA Certificate of General Liability Insurance. 5. DBA quarterly financial statements and Accounts Payable summary. MOTION: That the City Council: 1. Approve the 2009 BID Advisory Committee’s Annual Work Program and Budget as filed with the City Clerk; and, 2. Adopt the Resolution of Intention to set December 8, 2008, as the date for a public hearing to consider the continuation of the Downtown Culver City Business Improvement District. MEETING DATE: 11/10/08 AGENDA ITEM: Approval of the Downtown Culver City Business Improvement District Advisory Committee's Annual Work Program and Budget, and Adoption of a Resolution of Intention to Conduct a Public Hearing for Continuation of the Downtown Business Improvement District. ATTACHMENTS Paqes 1. Resolution of Intention. 1-2 2. 2009 BID Work Program and Budget. 3-5 3. Internal Revenue Service tax-exempt certification. 6-7 4. DBA Certificate of General Liability Insurance. 8 5. DBA quarterly financial statements and A/P Summary. 9-18Attachment RESOLUTION NO. 2008- 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 8, 2008. 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 and Ordinance No. 2000-027 the Downtown Culver City Business Improvement District (the "District"); and WHEREAS, on November 10, 2008, the City approved the District's Annual Report (work program and budget), prepared by the Culver City Business Improvement District Advisory Committee. 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 levy and collect assessments for the year 2009 within the 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 those contained in Ordinance No. 2000-027 and Ordinance No. 98-011. 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.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." 6. The District's Annual Report, on file with the City Clerk, should be referred to for a full and detailed description of the improvements and activities to be provided for the year 2009, the boundaries of the District and the assessments proposed to be levied upon the businesses within this District. 7. 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 manner, based upon the number of whole months remaining in the assessment period. 8. The City Council shall hold a public hearing on the 8th day of December 2008, at 7:00 p.m., or as soon thereafter as this matter may be heard, in the Culver City City Council Chambers at 9770 Culver Boulevard, Culver City, California. 9. At the above-referenced public hearing, written and oral protests may be made. 10. 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 above-referenced public hearing. APPROVED and ADOPTED this day of 2007. D. SCOTT MALSIN, MAYOR City of Culver City, California ATTEST: APPROVED AS TO FORM: MARTIN COLE, City Clerk CAROL A. SCHWAB, City AttorneyAttachment 2|1010|The Advisory Board proposes the following Work Program for 2009: MAINTENANCE The DBA Clean Team will perform increased downtown maintenance services per the Memorandum of Understanding (MOU) between the City of Culver City and Culver City Downtown Business Association. MOU services are separately funded by a separate agreement between the City of Culver City and the DBA. Other Work Plan items outside of Maintenance are not funded by MOU dollars. Downtown Maintenance services, including both MOU agreed and DBA provided services, are as follows: • Sidewalk maintenance program: O Personnel to sweep litter, debris and refuse from sidewalks, alleys (paseos) and gutters of the District O Empty sidewalk trash receptacles throughout District 2 times a day on Friday, Saturday and Sunday O Sweep and pressure wash sidewalks, plaza, paseos, and alleys within the District on a regular schedule throughout the year O Monthly pressure washing of parking structure entrances, landings and stairwells O Sweep and maintain areas around trash compactors O Street furniture to be wiped and cleaned daily (benches, bike racks, parking meters, mailboxes, and pay phones) O DBA Clean Team on streets daily, 10am to 4pm (Sun-Thurs) and 1 pm to 7pm (Fri and Sat) • Landscape Program: O Weed abatement in planters, medians and sidewalks O Trash and debris will be removed from planting areas O Removal and replacement of dead vegetation O Trimming of bushes and shrubs O Plants and flowers to be provided in planting areas and pots on an annual basis • Graffiti reporting: O Graffiti is logged and reported immediately to the City Graffiti Removal Team for removal O Paper signs and handbills will be removed COMMUNICATION/IMAGE • Maintenance of year-round Culver Blvd. decorative tree lights (twinkle lights) • Continued development of marketing partnerships with established and new downtown business • Continued upgrading of website with greater services, information and linkage provided • Continuing the distribution of the Downtown Lowdown, monthly e-newsletter • Partner with the City of Culver City and the downtown business community to create a festive holiday atmosphere for downtown • Partner with City of Culver City to produce the annual Holiday Tree Lighting CeremonyADVOCACY & ADMINISTRATION • Continue management of the Culver City Downtown Valet Parking Program; working with City of Culver City Engineering to determine best practices for a successful program • Continue management of downtown maintenance program, including increased services set forth by the MOU agreement with the City of Culver City • Proactive communication with City on violations of existing codes in relation to aesthetics and safety of facades and streetscape • Continuing coordination between City Sanitation Division and businesses to improve the district dumpster/trash issue. Work to include increasing the quantity of dumpsters and trash receptacles, as well as improving the maintenance of trash compactors and dumpsters • Partner with City of Culver City on advocacy issues and initiatives that may impact the quality of life for businesses and all users of downtown Culver City • Continue 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 Holiday Tree Lighting and other programs deemed important to the success of downtown • Interacting with the City to insure timely assessment billing and payment • Day to day communication of programs with DBA constituency iiDowntown Culver City-Business Improvement District Proposed Year 2009 Work Program and Budget $143,900 $ 36,000 $ 120 $122,420 $ 24,180 $122,412 $ 1,000 $ 3,000 $302,440 Revenue 2009 BID Assessment Fees Carry forward from 2008 assessments Interest income Memorandum of Understanding (MOU) Total Revenue Expenses Maintenance Management Contract ($2,015 @ 12mos) -Labor ($1665 per month) -Fuel ($350 per month) MOU Maintenance Management ($10,201 @ 12 mos) Uniforms Beautification Management (Twinkle Lights) Total Maintenance Management $150,592 Advocacy/Administration City BID Administration Fee (2%) $ 2,878 Professional Fees $ 5,000 D & 0 Insurance $ 1,450 Liability Insurance $ 770 Tax Preparation, Dues, Permits $ 900 Bank Service Charges 0 Office Rent 0 Telephone $ 800 Postage $ 400 Office supplies $ 600 Computer Services $ 600 Management $ 54,000 Downtown Valet Parking Management City Fees ($1,290 @ 12mos $ 15,480 Lot leases ($2,000 @ 12 mos) $ 24,000 Total Administration $106,878 Communication/Image -Website/Lowdown $ 2,500 -Holiday (tree, ads and event) $ 3,300 -Misc. $ 3,170 Total Communication/image $ 8,970 2008 Reserves $ 36,000 Total Expenses $302,440 s,ZZST:SICT MM.SCIIME P, CL 2soa CINitTEMIATI. 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GENERAL AGGREGATE PRODUCTS AND COMPLETED OPERATIONS AGGREGATE EACH OCCURRENCE TENANTS LEGAL LIABILITY MEDICAL EXPENSES - EACH PERSON PERSONAL INJURY Atig ADVERTISING INJURY HIRED AND NON-01YNE1) AUTOMOBILE LIABILITY $2,000,000 $2,000,000 $1,000,000 $1,000,000 $ 10,000 $1,000,000 $1,000,000 Attachment 4 BRANCH 4d NORTHERN CALIFO ANNIVERSARY EFF 04/09/2008 ZURICH PRECISION PORTFOLIO POLICY COMMERCIAL GENERAL LIABILITY DECLARATIONS PRECISION AMERICA OFFICE PROGRAM This coverage part consists of this declarations form, the common policy conditions, and the coverage forms and endorsements indicated as applicable on the forms list COMMERCIAL GENERAL LIABILITY 952008 Ed 3-00 INSURED'S COPY 03/04/2008 3.1.111:05 AM CC E Attachment 5 INC 10/23/08 Accrual Basis Balance Sheet As of March 31, 2008 Mar 31, 08 nn=1 ASSETS Current Assets Checking/Savings 1000 • Cash 1020•1313A Account - Bank of the West 1090 • Petty Cash 1000 Cash - Other Total 1000 • Cash Total Checking/Savings Accounts Receivable 1200 - Accounts Receivable Total Accounts Receivable Total Current Assets Fixed Assets Fixed Asset Computer Fixed Asset Furniture Total Fixed Asset Total Fixed Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 Accounts Payable Total Accounts Payable Total Current Liabilities Total Liabilities Equity 3000 - Opening Bal Equity 3900 - Retained Earnings Net Income Total Equity TOTAL LIABILITIES & EQUITY 19,956.19 200.00 9.75 20,165.94 20,165.94 102.12 102.12 20,268.06 1,603.03 646.09 2,249.12 2,249.12 22,517.18 5,195.83 5,195.83 5,195.83 5,195.83 4,824.54 23,174.60 -10,677,79 17,321.35 22,517.18 Page 1 of 1 C\11:07 AM 10/23/08 Accrual Basis CC Downtown Business Association, INC Balance Sheet As of June 30, 2008 Jun 30, DB •11n1•0111111•1•1111n ASSETS Current Assets Checking/Savings 1000 - Cash 1020 • DBA Account - Bank of the West 1090 • Petty Cash 1000 - Cash - Other Total 1000 • Cash Total Checking/Savings Accounts Receivable 1200 • Accounts Receivable Total Accounts Receivable Total Current Assets Fixed Assets Fixed Asset Computer Fixed Asset Furniture Total Fixed Asset Total Fixed Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 • Accounts Payable Total Accounts Payable Total Current Liabilities Total Liabilities Equity 3000 - Opening Bal Equity 3900 - Retained Earnings Net income Total Equity TOTAL LIABILITIES & EQUITY 88,059.59 200.00 9.75 88,269.34 88,269.34 102.12 102.12 88,371.46 1,603.03 646.09 2,249.12 2,249.12 90,620.58 4,417.80 4,417,80 4,417.80 4,417.80 4,824.54 23,174.60 58,203.64 86,202.78 90,620.58 1 0 Page 1 of 111:09 AM 10/23/08 Accrual Basis CC Downtown Business Association, INC Balance Sheet As of September 30, 2008 Sep 30, 08 ASSETS Current Assets Checking/Savings 1000 • Cash I 02Drn DBA Account - Bank of the West 66,481.87 1090 • Petty Cash 200.00 1000 Cash - Other 9.75 Total 1000 • Cash 66,691.62 Total Checking/Savings 66,691.62 Accounts Receivable 1200 Accounts Receivable 102.12 Total Accounts Receivable 102.12 Total Current Assets 66,793.74 Fixed Assets Fixed Asset Computer 1,603.03 Fixed Asset Furniture 646.09 Total Fixed Asset 2,249.12 Total Fixed Assets 2,249.12 TOTAL ASSETS 69,042.86 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 Accounts Payable Total Accounts Payable Total Current Liabilities Total Liabilities Equity 3000 • Opening Bal Equity 3900 Retained Earnings Net Income Total Equity TOTAL LIABILITIES & EQUITY 12,191.57 12,191.57 12,191.57 12,191.57 4,824.54 23,174.60 28,852.15 56,851.29 69,042.86 Page 1 of 111:10 AM 10/23/08 Accrual Basis CC Downtown Business Association, INC Balance Sheet As of December 31, 2008 ASSETS Current Assets Checking/Savings 1000 - Cash Dec 31, 08 1020 • DBA Account - Bank of the West 54,230.67 1090 • Petty Cash 200.00 1000 • Cash - Other 9.75 Total 1000 Cash 54,440.42 Total Checking/Savings 54,440.42 Accounts Receivable 1200 Accounts Receivable 102.12 Total Accounts Receivable 102.12 Total Current Assets 54,542.54 Fixed Assets Fixed Asset Computer 1,603.03 Fixed Asset Furniture 646.09 Total Fixed Asset 2,249.12 Total Fixed Assets 2,249.12 TOTAL ASSETS 56,791.66 LIABILITIES & EQUITY Equity 3000 Opening Bat Equity 4,824.54 3900 Retained Earnings 23,174.60 Net Income 28,792.52 Total Equity 56,791.66 TOTAL LIABILITIES & EQUITY 56,791.66 Page 1 of 111:06AM 10/23/08 Accrual Basis CC Downtown Business Association, INC Profit & Loss January through March 2008 Income 4000 • Income 4010 Assessment Income 4030 Associate Member Dues 4070 • Commission Income 4071 • Payphone Commission Total 4070 • Commission Income 4090•Miscellaneous Income 4091 • Interest Income Total 4000 Income Total Income Expense Maintenance Expense Special Projects 5000 - Communication & Image Expense 5200 • Promotional Events 5211 Holiday Events 5200 • Promotional Events - Other Total 5200 Promotional Events Total 5000 - Communication & Image Expense 8000 • Administration Expense 8400 • Office Expense 8410 Telephone Total 8400 - Office Expense 6600- Consulting Management 8700 - Insurance 8000 - Administration Expense - Other Total 8000 • Administration Expense Total Expense Jan - Mar 08 15,000.00 300.00 34.75 34.75 400.00 7.07 15,741.82 15,741.82 12,879.41 124.49 100.00 198.00 298.00 298.00 252.57 252.57 12,000.00 750.00 115.14 13,117.71 26,419.61 Net Income -10,677.79 Page 1 of 111:08 AM 10/23/08 Accrual Basis CC Downtown Business Association, INC Profit & Loss Income 4000 Income April through June 2008 Apr-Jun 08 4010 Assessment Income 93,938.25 4070 Commission Income 4071 • Payph one Commission 42.43 Total 4070 • Commission Income 42.43 4080 - Reimbursed Expenses 4085 • Other 162.00 4080- Reimbursed Expenses - Other 18.00 Total 4080 • Reimbursed Expenses 180.00 4091 - interest Income 23.69 Total 4000 - Income 94,184.37 Total Income 94,184.37 Expense Maintenance Expense 12,923.80 8000 - Administration Expense 8400 • Office Expense 8410 • Telephone 176.39 8470 • Office Supplies 202.75 Total 8400 • Office Expense 379.14 8600 Consulting Management 12,000.00 Total 8000 • Administration Expense 12,379.14 Total Expense 25,302.94 Net Income 68,881.43 Page 1 of 111:10AM 10/23/08 Accrual Basis CC Downtown Business Association, INC Profit & Loss July through September 2008 Income 4000 • Income 4080 Reimbursed Expenses 4091 • Interest Income Total 4000 Income Total Income Expense Maintenance Expense 5000 • Communication & Image Expense 5200 • Promotional Events 5211 • Holiday Events Total 5200 Promotional Events 5400 Website 5500 Other Marketing Expenses Total 5000 - Communication & Image Expense 8000 • Administration Expense 8400 • Office Expense 8410 • Telephone Total 8400 • Office Expense 8600 - Professional Fee 8600 • Consulting Management 8700 insurance 8800 • Taxes, Dues, Permits Total 8000 Administration Expense Total Expense Jul - Sep 08 10,200.00 13.99 10,213.99 10,213.99 20,697.57 1,089.50 1,089.50 878.75 500.00 2,468.25 265.66 265.66 1,450.00 13,000.00 1,450.00 234.00 16,399.66 39,565.48 Net income -29,351.49 Page 1 of 111:11 AM 10/23/08 Accrual Basis CC Downtown Business Association, INC Profit & Loss October through December 2008 Oct - Dec 08 ........... Income 0.00 Expense 8000 • Administration Expense 8400 - Office Expense 8410 - Telephone 59.63 Total 8400 • Office Expense 59.63 Total 8000 - Administration Expense 59.63 Total Expense 59.63 Net income -59.63 R:. Page 1 of 111:01 AM 10/23/08 CC Downtown Business Association, INC A/P Aging Summary As of October 31, 2008 Page 1 of 1 \ --7 31 -60 61 -90 > 90 TOTAL 0.00 0.00 0.00 0.00 I - 30 Currant TOTAL 0.00 0.00CC Downtown Business Association, INC AIR Aging Summary 11:03 AM 10/23/08 As of October 31, 2008 Current 1 -30 31 -60 61 - 90 > 90 TOTAL 0.00 0.00 0.00 0.00 IMMIN1111111111•M 0.00 INIUMNINIIIMMINNI 0.00 Flavor & Flair Pomp Home 0.00 0.00 0.00 0.00 0.00 0.00 Starwest 0.00 - 0.00 0.00 0.00 102.12 - 102.12 TOTAL 0.00 0.00 0.00 0.00 102.12 102.12|1010| Page 1 of 1