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Noe Valley CBD reports show strong fundraising and street improvements; committee advances item
Summary
OEWD and the Noe Valley Association presented annual reports showing a roughly $230,000 annual assessment budget, high fundraising (12—15% of budget), major carryover to cover first six months of operations and capital projects such as Duratherm crosswalks and parklets; committee moved the resolution forward without objection.
The committee advanced a resolution approving annual reports for the Noe Valley Community Benefit District following presentations by Office of Economic and Workforce Development staff and the Noe Valley Association.
Lisa Pagan (OEWD) said OEWD—s review found the Noe Valley CBD met its management-plan budget variance requirements and exceeded the fundraising expectation; the association raised about 12—15% of its budget from non-assessment sources. OEWD recommended that the district continue to include detailed carryover disbursement plans and contingency reserve details in its annual reports.
Deborah Neiman, executive director of the Noe Valley Association, described local projects and operations: daily sidewalk cleaning, graffiti abatement, tree plantings (she cited 136 trees planted), flower baskets, new newsstands, a small budget (about $230,000) that leverages grants and sponsorships, parklets and community events including a harvest festival. Neiman highlighted a pedestrian-safety Duratherm crosswalk installed at Castro and 20th Streets near local schools; she said the district piloted the material in coordination with DPW and other city departments.
OEWD—s financial snapshot for FY2009-10 showed projected revenue of $449,005.99 and projected expenses of $253,200, producing a projected carryover of $196,003.99; presenters explained that the carryover routinely covers the first six months of operations because assessment installments are not received until January.
Supervisors asked about the size of the carryover; district staff and OEWD explained the timing of assessment receipts and the use of carryover to fund services from July through December. After public comment, the committee moved the resolution forward without objection. The item will be placed on the Board of Supervisors agenda.
