HomeMy WebLinkAbout17 - Eliminating the Balboa Village Area Benefit District - PowerPoint (Staff)Ordinance No. 2021-12:
Eliminating the Balboa Village
Area Benefit District
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• On April 27, 2021, Councilmember O'Neill requested, and the Council
approved, direction to staff to bring this item forward
• With implementation of the Balboa Village Master Plan now complete,
the proposed actions would return restricted parking funds to the
General Fund
• Currently approximately $396,000 per year
• Funds are generated from parking meters within the district as well
as the Washington Street and Palm Street parking lots
City of Newport Beach — Finance Department
• In 2012, the Balboa Village Master Plan was adopted
• Ordinance No. 2014-21 created a framework for establishing an Area
Benefit District Reserve Fund into which specific revenue streams could be
diverted to fund capital projects and other programs in a specific area of
the City
• Funds can be utilized for:
• Streetscape improvements
• Beautification projects
• Commercial fagade improvements
• Transit, pedestrian, and bicycle infrastructure
• Wayfinding signage
• Additional parking
• Extraordinary maintenance programs
• Transportation mobility and parking management strategies
City of Newport Beach — Finance Department S
• Ordinance 2014-21 also created the City's first Area Benefit District in
Balboa Village, bounded by Adams Street, Newport Bay, A Street, and
the Pacific Ocean
• Resolution No. 2014-101 provided the funding mechanism for the
Balboa Village Area Benefit District
• 100% of non -Tidelands parking revenues within the district
• Funds were formerly allocated to the General Fund
City of Newport Beach — Finance Department
• Resolution No. 2012-85 created the BVAC as recommended by the
Balboa Village Implementation Plan
• Committee to:
• Oversee timely implementation of the Plan
• Provide recommendations to Council regarding 1) adoption of
specific programs and projects consistent with the Plan and 2)
allocation of funding from the Area Benefit District
• Term to end on December 31, 2016
• Term
extended
to
December 31,
20187
by
Resolution
No.
2016-50
• Term
extended
to
December 31,
2020,
by
Resolution
No.
2018-80
City of Newport Beach — Finance Department 5
• Since its creation in 2014, the funding generated by the District has
totaled approximately $2,380,000
• Approximately $1,070,000 of this amount has been spent to date as
outlined in the table below
Balboa Village Streetscape Improvements
Balboa Peninsula Summer Trolley
Balboa Village Fagade Program
Balboa Village Wayfinding Program
Balboa Village Enhanced Maintenance
Balboa Boulevard Median Improvements
City of Newport Beach — Finance Department
$501,000
169,000
1437000
131,000
70,0000
56,000
• Staff proposes that projects already underway, as well as those
budgeted in the FY 2021-22 Capital Improvement Program, would
continue as originally planned and be funded from the District Funds on
hand as follows
Balboa Boulevard Median Improvements
Balboa Peninsula Summer Trolley
$133,000
$ 850,000
150,000
• If the proposed funding for these projects is approved, it is estimated
that $150,000 of funding previously collected by the District will remain
unprogrammed and could be returned to the General Fund
City of Newport Beach — Finance Department
is If approved, the proposed ordinance will return to the City
Council on June 8t" for second reading
is The ordinance will be accompanied by a resolution
repealing Resolution No. 2014-101 that will:
• Eliminate the Balboa Village Area Benefit District Fund
is Direct all unprogrammed funds to be returned to the
General Fund
is As a result of these actions, ongoing General Fund parking
revenues will increase by $3963000
City of Newport Beach — Finance Department
• Determine this action is exempt from the California Environmental
Quality Act (CEQA) pursuant to Sections 15060(c)(2) and
15060(c)(3) of the CEQA Guidelines because this action will not
result in a physical change to the environment, directly or indirectly;
and
• Introduce Ordinance No. 2021-12, An Ordinance of the City Council
of the City of Newport Beach, California Amending Section
12.44.029 (Area Benefit District Reserve) of Chapter 12.44
(Stopping, Standing and Parking Restrictions) of Title 12 (Vehicles
and Traffic) of the Newport Beach Municipal Code to Eliminate the
Balboa Village Area Benefit District, and pass to second reading on
June 8, 2021.
City of Newport Beach — Finance Department
Questions?
City of Newport Beach — Finance Department 10