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Council renews Toy District Business Improvement District; assessment reduced
Summary
The City Council approved creation/renewal of the Toy District Business Improvement District and adopted the ordinance to establish the district and its assessment, with the city assessment reduced as presented. The vote was 13-0.
The Los Angeles City Council on Wednesday adopted the ordinance to create and renew the Toy District Business Improvement District, approving a revised assessment schedule and authorizing the district’s reestablishment by a 13-aye vote.
Tracy Lovejoy, executive director of the Central City East Association, which administers the Toy District BID, told the council property owners supported the renewal. “On behalf of all the property owners, we’re happy to have this renewed again,” Lovejoy said during the public hearing.
Council staff said the assessment had been reduced from about $1,500 to roughly $1,100 to reflect updated calculations. The council adopted the ordinance after the public hearing and a short presentation by staff; the clerk recorded 13 ayes.
What’s next: The BID will continue operations under the revised assessment; the administering association will work with city staff to implement services funded by the assessment.
