First, the City will need to contract with an organization to operate the BID. Annually, this organization will submit a Proposed Operating Plan and Budget to the Business Improvement District Advisory Board for the ensuing calendar year not later than February 15 of each year.
The Board will review and approve the Business Plan not later than May 15 of each year, submit to the City Council a recommended program of services to be performed or provided within the District during the next ensuing calendar year, and submit a proposed budget to accomplish these objectives, consistent with the Business Plan.
The District shall commence on January 1, 2021. The term of the District will be for one-year. The term of the District will be extended for an additional one-year term upon adoption of the District annual budget by the City Council. The City Council may vote not to extend the term of the District for one additional year at the time of the District budget consideration.