Property owners in Downtown Santa Monica can soon expect to see ballots in the mail asking them to sign off on a new assessment district in the city’s busiest commercial area. The City Council — convening as the Redevelopment Agency — on Tuesday accepted petitions necessary to launch a ballot measure regarding the formation of a Property Based Assessment District (PBAD). The petition included the signatures of 45 percent of the total properties in the proposed district, exceeding the mandatory 40 percent threshold.
If formed, the district will be bounded by properties on Ocean Avenue to the West, Seventh Court to the east, the I-10 Freeway to the south and the north side of Wilshire Boulevard. The district will be in existence for 20 years with a reaffirmation vote of property owners after the first decade. The properties will be assessed based on their location, size and type of use. The properties in the Third Street Promenade will be assessed at the highest value with the levy decreasing in accordance with the distance from the center of the district. The revenue from the assessments will be used to pay for services such as an ambassador program, which will provide concierge services to the public, and homeless outreach.
The ballots will be tallied by the City Clerk on July 22. DAILY PRESS
Originally published in the Santa Monica Daily Press print edition on May 16, 2008. Read the original PDF.