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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.
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