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Committee receives Ocean Avenue and Fisherman’s Wharf CBD annual reports and forwards recommendations
Summary
The Government Audit and Oversight Committee received FY2014–15 annual reports for the Ocean Avenue and Fisherman’s Wharf Community Benefit Districts, found Ocean Avenue had carryover-reporting deficiencies, and forwarded both reports to the full Board with a positive recommendation.
The Government Audit and Oversight Committee on April 7 received annual reports for the Ocean Avenue and Fisherman’s Wharf Community Benefit Districts (CBDs) for fiscal year 2014–15 and recommended both items be forwarded to the Board of Supervisors.
Chris Corgus (OEWD) presented the Ocean Avenue CBD annual report and said the district (approximately 211 parcels, property-based assessment budget initially $239,578) met benchmarks for budget variance and non-assessment revenue (12.4% non-assessment revenue) but failed to meet a benchmark on budget–actual variance for marketing/streetscape and did not include carryover disbursements in its annual report. OEWD recommended the CBD include carryover and spend-down plans going forward and said OEWD staff will work with the CBD to complete outstanding work within fiscal year 2015–16.
Daniel Weaver, Ocean Avenue CBD executive director, explained that about $259,000 of assessment revenue and roughly $303,000 from grants and other sources were available in FY14–15; some grant funds were agency-held and were drawn down later, which contributed to the apparent variance.
On Item 2, Corgus described the Fisherman’s Wharf CBD as a combined land-side (127 parcels) and port-side (58 businesses) district; the land side brought in approximately $622,000 and the port side approximately $187,113 in its first year of operation. Troy Campbell, executive director of the Fisherman’s Wharf CBD, highlighted marketing successes (record web visitation, social media growth and brochure distribution), events, ambassador program results and partnership work, and noted $1.7 million allocated for Jefferson Street Phase 2 in city planning funds.
Chair Peskin asked for a motion to excuse Supervisor London Breed for both items; motions were made and approved without objection and both items were forwarded to the full Board with recommendation.
