THIRD STREET PROMENADE AND DOWNTOWN DISTRICT

 In accordance with Resolution 8026 (CCS), an Operation and Maintenance Assessment Fee (Assessment Fee) is levied on all businesses within the Third Street Promenade and Bayside District.

Uses for Funds :  Supplemental operations and maintenance, including Bayside District Corp. budget.

Boundaries: Centerlines of the following streets - Wilshire Boulevard on the north, Fourth Court on the east, Broadway on the south, and First Court on the west.

Date Established :  1986 

Formula for Retail and Non Retail Businesses: Annually, which ever is less:
 One times the annual business license tax up to a maximum of $25,013 (FY 2008/09); or $0.14 per square foot of leased space per month, subject to request and the City's approval.  These figures are adjusted annually for increases in the Consumer Price Index.

 The square foot formula is effective on a request basis only, and applicants requesting this option are required to submit a copy of the lease and/or other documentation with regard to the amount of gross square footage that is leased.

  For questions, contact the Business License Office at 310-458-8745 or email them at license@smgov.net.

Exceptions :  None.  Applies to all business licenses within the District.

How Funds are Collected :  Concurrently with the annual business license tax (will appear on the Business License Tax Renewal form).

Who Administers the Fund :  the City with advice and recommendations from the Bayside District Corporation.

Approximate Size of Fund :  $900,000 per year

To see more information on the Third Street Promenade and Downtown, visit their website at http://www.downtownsm.com/

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This page was last modified on 07/21/2008