Colorado Avenue Property Based Assessment District PBAD Overlay Zone
Resolution 10896 (CCS) approved
by City Council on July 14, 2015, ordered the formation of a new benefit zone
within the Downtown Santa Monica Property Based Assessment District along
Colorado Avenue (known as the Colorado Overlay Zone) and authorized the levy of
and placement of assessments on the property tax rolls each year.
Uses for Funds: Enhanced maintenance and public safety above and
beyond those provided by the City of Santa Monica and the existing Downtown
Santa Monica PBAD. Proposed activities and improvements are described in detail
in the Colorado PBAD Engineer's Report and Management Plan.
Boundaries: The Colorado
Overlay Zone includes properties with frontage along Colorado Avenue from Ocean
Avenue to 7th Court. There
are two Benefit Zones within the overlay boundary to reflect the varying levels
of services provided. Parcels East of 5th
Court/Colorado intersection and those that are West of 5th
Date Established: July 14, 2015 and will continue for 12 additional
years until 2028.
Formula: Annual assessment for FY
2019/20 is based the benefit zone and the linear street frontage. Below are the assessment rates for each
Linear Foot per Year
Exceptions: None. Applies to all properties within the Colorado
Avenue Overlay Zone.
How Funds are Collected: Assessments are collected by the Los
Angeles County Tax Assessor's Office.
Administers the Fund: Downtown Santa Monica, Inc.
Approximate Size of Fund: Estimated at $330,000 (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.
Colorado PBAD Overlay Zone Management Plan - 3-4-15
Colorado Engineer's Report
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