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8D Consent 2012 1217
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8D Consent 2012 1217
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12/21/2012 11:52:15 AM
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12/12/2012 10:34:22 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
12/17/2012
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_CC Agenda 2012 1217 CS+RG
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\City Clerk\City Council\Agenda Packets\2012\Packet 2012 1217
Reso 2012-131
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\City Clerk\City Council\Resolutions\2012
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WEST SAN LEANDRO SHUTTLE BUSINESS IMPROVEMENT DISTRICT ANNUAL REPORT FY 2012-13 <br /> <br />5 | Page <br /> <br />LINKS currently has a Lifeline Cycle 2 Grant in the amount of $405,000 which has a remaining <br />balance $197,855 (as of 11/15/12). This grant was due to expire, whether all of the grant funds <br />were expended or not. Staff worked with MTC and received approval to extend the Lifeline <br />grant term to December 2014 to allow full recovery and $121,661 in Lifeline Grant revenue is <br />budgeted in 2012-13. <br /> <br />In March 2012, the SLTMO applied for a Lifeline Cycle 3 Grant to fund LINKS operations in <br />the amount of $336,000. The three year grant which would start in FY 2013-14 has been <br />recommended by ACTC and is pending approval. <br /> <br />SLTMO continues to pursue a variety of grant funding, however, grant funding is unpredictable. <br />In addition, grant reimbursements can only be drawn as a percentage of the total expense for the <br />reporting period. The reimbursement process creates a cash flow problem making it necessary to <br />have a strong reserve balance at all times. <br /> <br />Proactive measures taken to reduce costs and secure grants have helped to stabilize funding for <br />LINKS. The loss of Redevelopment funding to fill the cash flow gap resulting from the grant <br />reimbursement process will continue to pose a challenge for LINKS. With the instability of <br />grant funding and the loss of Redevelopment funds it is necessary to increase revenue by <br />increasing the BID rates. <br /> <br />Per the approved Ordinance, the BID may be increased annually by the Consumer Price Index <br />(CPI). This Fiscal Year’s CPI factor is 2.6 percent which would result in the BID Base Rate <br />increasing from $25.35 to 26.01, and the BID Rate Per Employee increasing from $11.03 to <br />$11.32. Businesses with five or fewer employees, landlords, and non-profits would remain <br />exempt from the BID. <br /> <br />The LINKS budget for FY 2012-13 and anticipated budget for FYs 2013-14 and 2014-15 can be <br />found in Exhibit C. The proposed FY 2012-13 expenditures are approximately $270,000. The <br />following is a summary of the items that impact future budgets. <br /> <br /> BID revenue is projected at $134,000 in FY 2012-13 with the recommended 2.6 percent <br />CPI increase in the BID rates. <br /> <br /> The loss of Redevelopment funding to fill the cash flow gap resulting from the grant <br />reimbursement process will pose a challenge for LINKS in FY 2012-13 and future years. <br /> <br /> Staff received approval from MTC to extend the Lifeline Cycle 2 Grant term to <br />December 2014 allowing full recovery of the grant. <br /> <br /> LINKS applied for a Lifeline Cycle 3 Grant in the amount of $336,000. The three year <br />grant which would start in FY 2013-14 has been recommended by ACTC and is pending <br />approval. <br /> <br /> The SLTMO will continue to pursue additional grant funding for FY 2012-13 and <br />beyond, such as the Transportation Fund for Clean Air (TFCA) grant funding
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