Resolution 10336 (CCS) approved by City Council on July 24, 2008, ordered the formation of a property and business improvement district in Downtown Santa Monica (known as the Downtown Santa Monica PBAD) and authorized the levy of and placement of assessments on the property tax rolls each year.
Uses for Funds: Enhanced maintenance, an ambassador program, marketing and special projects, above and beyond those provided by the City of Santa Monica. Proposed activities and improvements are described in detail in the Engineer's Report.
Boundaries: The PBAD boundary generally encompasses properties bounded by Ocean Avenue to the west, 7th Court to the east, Santa Monica Freeway to the south, parcels on the north side of Wilshire Boulevard and selected parcels with commercial or visitor-serving orientation north of Wilshire Boulevard along 2nd, 3rd, 4th, 5th, 6th and 7th Streets. See Map.
Date Established: July 24, 2008
Formula: Annual rates for FY 2020/21 are based on three factors:
- The greater of the lot or building square footage
- The property’s location within one of three zones of benefit.
- The type of use/ownership (commercial, residential, governmental, and non profit).
DOWNTOWN SM PBAD
|
Commercial
(per sf)
|
Residential &
Government
(per sf)
|
Non Profit
(per sf)
|
Gov Parking Structure
(per sf)
|
Promenade
(Zone 1)
|
0.996
|
0.705
|
0.354
|
0.178
|
Bayside/Ocean
(Zone 2)
|
0.498
|
0.354
|
0.178
|
Downtown East
(Zone 3)
|
0.250
|
0.178
|
0.088
|
Exceptions: None. Applies to all properties within the district.
How Funds are Collected: Assessments are collected by the Los Angeles County Tax Assessor's Office.
Who Administers the Fund: Downtown Santa Monica, Inc.
Approximate Size of Fund: Approximately $4 million (Fiscal Year 2016-17). Annual assessment increases may range from 0% to 5% to keep pace with the consumer price index and program costs, and will be subject to annual review and approval by the Downtown Santa Monica, Inc. Board of Directors.
If you would like more information about the management of the District, please contact:
Downtown Santa Monica, Inc.
1351 Third Street Promenade, Suite 201
Santa Monica, CA 90401
info@downtownsm.com
Phone: (310) 393-8355
Fax: (310) 458-3921
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