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Committee forwards Lower Polk Community Benefit District management agreement to full Board
Summary
The Government and Oversight Committee voted without objection to forward a resolution approving a management agreement that lets the city transfer assessment funds to the Lower Polk Community Benefit District; OEWD said roughly $760,000 is expected for FY2014 and about $800,000 for FY2015.
The Government and Oversight Committee on July 16 voted to forward to the full Board of Supervisors a resolution approving a management agreement between the city and the Lower Polk Property Owners Association to administer the Lower Polk Community Benefit District.
An Office of Economic and Workforce Development staff member said the agreement uses a city template and is required for the controller to transfer assessment funds. "If approved by this committee and by the full board, this will allow the city to transfer the collected assessment funds... We anticipate the delivery of just over $760,000 to the CBD within the 2014 fiscal year and in 2015-16 we anticipate a collection of just under $800,000," the presenter said.
Chris Schulman, president of the Lower Polk CBD board, thanked supervisors and the Office of Economic and Workforce Development for help setting up the district and called out staff support from Supervisors Christensen, Kim and Breed. Supervisor Christensen said she is a "big proponent of the CBDs" and urged staff to work with the CBD to make it "inclusive and progressive."
Chair Supervisor Yee called for a motion to forward the item to the full Board; the motion passed with no objection.
The item will now appear on the July 28 Board of Supervisors agenda for final consideration.
