Boundaries: Properties bordering Pico Boulevard from the Pacific Ocean to the easternmost City limits at Centinela Blvd.
Date Established: 2000
Formula for Retail and Hotels/Motels: 1 x Business License Tax up to a maximum of $1,000 per year.
Formula for Auto-related Retail, Service Station, and Repair: 1 x Business License Tax up to a maximum of $500 per year.
Formula for Non-Retail: $100 flat fee per year.
Special Note: The fee is $50 per year for all new business license holders and those reporting less than $20,000 gross receipts for any year on which renewal of the business license tax is based.
Exemptions: Businesses which are subject to the Main Street Business Improvement Assessment, home-based businesses and residential property owners are exempt.
How Funds are Collected: Concurrently with the annual business license tax (will appear on the Business License Tax Renewal form).
Who Administers the Fund: Weil & Company, LLP, a Santa Monica-based certified public accounting firm, administers the fund on behalf of the Pico Improvement Organization (PIO). The PIO Board of Directors is elected by the members of the BID and determines how the funds are to be spent.
Approximate Size of Fund: $80,000 per year
Uses for Funds: Marketing and promotion of Pico Boulevard and its businesses; solving business problems along Pico, including parking, neighbor relations, and promotion and advertising of Pico Boulevard businesses. The PIO also organizes the annual Pico Fitness Crawl to showcase member businesses and raise the profile of Pico Boulevard.
Link to website: www.picopassport.com
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