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Home My WebLink About03-20-24 - Downtown Business Improvement District - Agendas & Packet MaterialsA. Call meeting to order - 12:00 p.m. B. Disclosures C. Changes to the Agenda D. Consent E. Public Comment F. FYI/Discussion THE BOZEMAN DOWNTOWN BUSINESS IMPROVEMENT DISTRICT BOARD OF BOZEMAN, MONTANA BID AGENDA Wednesday, March 20, 2024 General information about the Downtown Business Improvement District Board is available in our Laserfiche repository. If you are interested in commenting in writing on items on the agenda please send an email to agenda@bozeman.net or visit the Public Comment Page prior to 12:00pm on the day of the meeting. Public comments will also be accepted in-person and through Video Conference during the appropriate agenda items. As always, the meeting will be streamed through the Commission's video page and available in the City on cable channel 190. For more information please contact Emily Cope, emily@downtownbozeman.org This meeting will be held both in-person and also using an online video conferencing system. You can join this meeting: Via Video Conference: Click the Register link, enter the required information, and click submit. Click Join Now to enter the meeting. Via Phone: This is for listening only if you cannot watch the stream, channel 190, or attend in- person United States Toll +1 253 205 0468 Access code: 955 3864 1712 This is the time to comment on any matter falling within the scope of the Business Improvement District Board. There will also be time in conjunction with each agenda item for public comment relating to that item but you may only speak once per topic. Please note, the Board cannot take action on any item which does not appear on the agenda. All persons addressing the Board shall speak in a civil and courteous manner and members of the audience shall be respectful of others. Please state your name and place of residence in an audible tone of voice for the record and limit your comments to three minutes. 1 F.1 Downtown BID Draft Budget Review- FY25/FY26 (Cope) F.2 March 2024 Finance Report (Cope) F.3 March Director's Report (Cope) G. Adjournment For more information please contact Emily Cope, Bozeman Downtown Partnership, emily@downtownbozeman.org This board generally meets the 3rd Wednesday of the month from 12:00 to 1:30 Citizen Advisory Board meetings are open to all members of the public. If you have a disability that requires assistance, please contact our ADA Coordinator, Mike Gray, at 582-3232 (TDD 582-2301). 2 Memorandum REPORT TO:Bozeman Downtown Business Improvement District Board FROM:Emily Cope, Downtown Bozeman Partnership SUBJECT:Downtown BID Draft Budget Review- FY25/FY26 MEETING DATE:March 20, 2024 AGENDA ITEM TYPE:Finance RECOMMENDATION:Discuss. STRATEGIC PLAN:7.3 Best Practices, Creativity & Foresight: Utilize best practices, innovative approaches, and constantly anticipate new directions and changes relevant to the governance of the City. Be also adaptable and flexible with an outward focus on the customer and an external understanding of the issues as others may see them. BACKGROUND:Staff will present the draft FY25 & FY25 budgets. Final budget will be approved at the April board meeting. UNRESOLVED ISSUES:None. ALTERNATIVES:As suggested by board. FISCAL EFFECTS:Budget for future fiscal year. Attachments: BID Assessment Budget and Assessment Rates FY2025 DRAFT v2.pdf Report compiled on: March 14, 2024 3 APPROVED BUDGET YEAR END PROJECTION DRAFT DRAFT FY2024 FY2024 FY2025 % change vs FY24 FY2026 Income BID Assessment 230,000$ 230,000$ 260,000$ 13%275,000$ 6% BID Assessment--residual Contract Income 24,000$ 24,000$ 25,000$ 4%25,000$ 0% Interest Income 100$ 325$ 100$ 0%100$ 0% Mobile Vending Fees 1,750$ 750$ 1,750$ 0%1,750$ 0% Flower Sponsorships 9,000$ 9,000$ 9,500$ 6%9,500$ 0% Christmas Light Sponsorships 3,500$ 3,750$ 3,500$ 0%3,500$ 0% Streetlamp Banners 12,000$ 12,000$ 12,500$ 4%12,500$ 0% Total Income 280,350$ 279,825$ 312,350$ 11%327,350$ 5% Expenses Management Fee 67,500$ 67,500$ 75,000$ 11%88,065$ 17% Total Expenses 67,500$ 67,500$ 75,000$ 11%88,065$ 17% Payroll Expenses Maintenance Staff 65,000$ 50,000$ 75,000$ 15%80,000$ 7% Taxes 4,825$ 4,800$ 5,500$ 14%5,500$ 0% Work Comp 3,300$ 2,500$ 3,500$ 6%3,500$ 0% Maintenance Staff--Garage 22,500$ 22,500$ 24,000$ 7%25,000$ 4% Taxes 950$ 925$ 950$ 0%950$ 0% Work Comp 950$ 925$ 950$ 0%950$ 0% Total Payroll Expenses 97,525$ 81,650$ 109,900$ 13%115,900$ 5% Programs Outreach Bozeman / Crisis Response Team 10,000$ 10,000$ 10,000$ 0%10,000$ 0% Downtown Bozeman Association (DBA) Support 27,000$ 27,000$ 27,500$ 2%28,000$ 2% Holiday Lights - Reserve Fund 10,000$ 10,000$ 12,250$ 23%10,000$ -18% Holiday Lights 2,000$ 1,700$ 2,500$ 25%2,500$ 0% Holiday Light Spider Repair 2,000$ 1,700$ 2,000$ 0%2,000$ 0% Hoiday Decor Storage 1,525$ 1,479$ 1,575$ 3%1,675$ 6% New Banners 3,000$ 3,000$ 4,000$ 33%4,000$ 0% Flower Expenses 30,000$ 31,000$ 32,000$ 7%33,000$ 3% Flower Water 300$ 300$ 400$ 33%400$ 0% Tree Purchases 2,000$ 2,000$ -$ -100%-$ Marketing 2,500$ 2,500$ 2,500$ 0%3,000$ 20% Maintenance Supplies 4,000$ 4,000$ 4,500$ 13%4,750$ 6% Garbage Bags 2,675$ 2,675$ 3,000$ 12%3,250$ 8% Graffiti Supplies 1,000$ 750$ 1,000$ 0%1,150$ 15% Graffiti Contracted Removal 6,500$ 5,500$ 6,500$ 0%7,000$ 8% Mule Service & Fuel 1,750$ 1,750$ 1,850$ 6%1,950$ 5% Truck Service & Fuel 2,500$ 2,250$ 2,600$ 4%2,700$ 4% Vehicle Insurance 5,500$ 5,778$ 6,000$ 9%6,250$ 4% Program Contingency 1,000$ 750$ 6,000$ 500%1,000$ -83% Total Program Expenses 115,250$ 114,132$ 126,175$ 9%122,625$ -3% Total BID Expenses 280,275$ 263,282$ 311,075$ 11%326,590$ 5%NET ASSESSMENT INCOME 75$ 16,543$ 1,275$ 760$ 4 ACTUAL SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 FY2024 FY2025 FY2025 FY2025 FY2025 Assessment Total 230,000.00$ 260,000.00$ 270,000.00$ 280,000.00$ 290,000.00$ Assessment Rate 0.016574$ 0.018736$ 0.019456$ 0.020177$ 0.020898$ Total Taxable Value of BID District Taxable Value % increase YOY Assessment Rate History FY25 $ 13,877,157.00 0% FY24 $ 13,877,157.00 67%$0.016574 FY23 $ 8,284,875.00 0%$0.026554 FY22 $ 8,284,875.00 22%$0.022330 FY21 6,776,948.00$ 7%$0.025823 FY20 6,317,056.00$ 38%$0.019946 FY19 4,567,534.00$ 9%$0.027586 FY18 4,204,204.00$ $0.029970 Notes: Resolution 5140- The annual assessment rate shall not exceed $0.03 per dollar of taxable value for the duration of the district (2021-2030). BID FY2025 ASSESSMENT RATE 5 Memorandum REPORT TO:Bozeman Downtown Business Improvement District Board FROM:Emily Cope, Economic Development Director SUBJECT:March 2024 Finance Report MEETING DATE:March 20, 2024 AGENDA ITEM TYPE:Finance RECOMMENDATION:Discuss. STRATEGIC PLAN:7.3 Best Practices, Creativity & Foresight: Utilize best practices, innovative approaches, and constantly anticipate new directions and changes relevant to the governance of the City. Be also adaptable and flexible with an outward focus on the customer and an external understanding of the issues as others may see them. BACKGROUND:Emily will present the monthly finance report. UNRESOLVED ISSUES:None. ALTERNATIVES:None. FISCAL EFFECTS:None. Attachments: BID Finance Report 3-13-24.pdf Report compiled on: March 12, 2024 6 Downtown BID March 2024 Finance Report APPROVED Y-T-D FY2024 FY2024 Income BID Assessment 230,000.00$ 230,000.00$ 100% BID Assessment--residual Contract Income 24,000.00$ 24,000.00$ 100% Interest Income 100.00$ 326.08$ 326% Mobile Vending Fees 1,750.00$ 0% Flower Sponsorships 9,000.00$ 1,200.00$ 13% Christmas Light Sponsorships 3,500.00$ 3,900.09$ 111% Streetlamp Banners 12,000.00$ 9,200.00$ 77% Imperial Hanging Basket Sales 2,089.00$ Total Income 280,350.00$ 270,715.17$ 97% Expenses Management Fee 67,500.00$ 50,625.00$ 75% Total Expenses 67,500.00$ 50,625.00$ 75% Payroll Expenses Maintenance Staff 65,000.00$ 29,442.75$ 45% Taxes 4,825.00$ 3,559.11$ 74% Work Comp 3,300.00$ 827.35$ 25% Maintenance Staff--Garage 22,500.00$ 15,609.50$ 69% Taxes 950.00$ 0% Work Comp 950.00$ 0% Total Payroll Expenses 97,525.00$ 49,438.71$ 51% Programs Outreach Bozeman 10,000.00$ 10,000.00$ 100% wntown Bozeman Association (DBA) Sup 27,000.00$ 27,000.00$ 100% Holiday Lights 2,000.00$ 1,636.78$ 82% Holiday Light Spider Repair 2,000.00$ 1,439.40$ 72% Holiday Lights Storage 1,525.00$ 1,479.00$ 97% Holiday Lights- Reserve Fund 10,000.00$ 10,000.00$ 100% New Banners 3,000.00$ 0% Flower Expenses 30,000.00$ 30,961.00$ 103% Flower Water 300.00$ 234.48$ 78% Tree Purchases 2,000.00$ 0% Marketing 2,500.00$ 2,500.00$ 100% Maintenance Supplies 4,000.00$ 2,716.13$ 68% Garbage Bags 2,675.00$ 1,330.32$ 50% Graffiti Supplies 1,000.00$ 266.70$ 27% Graffiti Contracted Removal 6,500.00$ 1,084.19$ 17% Mule Service & Fuel 1,750.00$ 1,168.26$ 67% Truck Service & Fuel 2,500.00$ 1,556.49$ 62% Truck-Mule Insurance 5,500.00$ 5,788.00$ 105% Program Contingency 1,000.00$ 667.05$ 67% Total Program Expenses 115,250.00$ 99,827.80$ 87% Total BID Expenses 280,275.00$ 199,891.51$ 71% NET ASSESSMENT INCOME 75$ 70,824$ Capital Expenses Red Holiday Spider Replacement 15,000.00$ 13,060.13$ 87% Earth Planter Self-Watering Basket (M 45,000.00$ 38,760.00$ 86% Fire Cabinet 1,509.42$ Checking Account Balance 152,775.78$ Certificate of Deposit Balance 32,232.83$ Total Cash On Hand Total 185,008.61$ 7 Memorandum REPORT TO:Bozeman Downtown Business Improvement District Board FROM:Emily Cope, Downtown Bozeman Partnership SUBJECT:March Director's Report MEETING DATE:March 20, 2024 AGENDA ITEM TYPE:Plan/Report/Study RECOMMENDATION:Discuss. STRATEGIC PLAN:7.3 Best Practices, Creativity & Foresight: Utilize best practices, innovative approaches, and constantly anticipate new directions and changes relevant to the governance of the City. Be also adaptable and flexible with an outward focus on the customer and an external understanding of the issues as others may see them. BACKGROUND:Emily will present a monthly update on downtown programs. UNRESOLVED ISSUES:None. ALTERNATIVES:None. FISCAL EFFECTS:None. Attachments: BID EDD Report 3-24.pdf Report compiled on: March 14, 2024 8 Economic Development Director’s Report Business Improvement District Board March 2024 General Updates Montana Main Street Program – Application submitted. Mandatory Site Visit – Thursday, April 18 at 3pm, Baxter Ballroom, attendance from stakeholders is important! DBP Annual Breakfast and Awards – Wednesday, May 29 at 7:30am at the AC Hotel Montana Downtown Conference - hosted by Downtown Bozeman| Downtown Livingston – Oct. 23- 25. Save the date! Development Code Update: https://engage.bozeman.net/udc In October 2023, the City Commission paused their consideration of this project until this year. Learn more by clicking the link above. The Downtown URD board had a document prepared to compare the current code to the proposed UDC changes. See attachment. Strategic Parking Management Plan Update On-hold with internal City staffing changes, Interim Parking Manager - Nic Focken and Neighborhood Services Manager- Ben Bailey. Maintenance Program Update We are fully staffed for the winter season. A flower waterer from the 2023 season has expressed interest in returning for the 2024 season. I have received quotes from DiJulio Displays for new garland, bows and large wreath options. Below are the maintenance statistics comparing the year-to-date figures from this year (FY24) to the corresponding stats from last year (FY23). FY2023 Y-T-D FY2024 Y-T-D Total Avg/mnth Total Avg/mnth Difference Trash Emptied 2279 285 2483 310 +204 Recycling Emptied 500 63 519 65 +19 Graffiti Removed 149 19 177 24 +28 Business Updates • Moo Country- 16 N Grand- Now Open • Belle Cose – 233 E Main St- renovations underway • TBD-122 E Main- Formerly Downtown Antiques • TBD- 211 E Main- Formerly El Camino/Kitty Warren • TBD- 33 S Willson- Formerly On the Rise Bakery • Bitterroot Bistro- 19 S Willson- Opening Soon 9 • TBD-18 S Willson Formerly Alloy • TBD- 121 W Main- Formerly Shred Monk Brewing Upcoming Downtown Events • Restaurant Week – April 22-28, 2024 10