Finance Info & Process

Proposed Annual Operating Budget Summary^*

Sidewalk Operations, Beautification and Order Programs (58%)	$122,000
District Identify and Streetscape Improvements (10%)	$22,000
Administration/Corporate Operations (25%)	$43,000
Contingency/City Fees/Reserves (7%)	$9,738
Total:	$196,738

^*Due to grants, events, and sponsorships the overall projected operating budget will exceed $400,000 annually. The budget above reflects those fees raised specifically by the CBID assessment and the additional revenue projected comes from the same sources currently being raised annually by the WG Business Association for events such as DancinÕ on the Avenue, Business Directories, and Founders Day/Italian Family Festa. While the current BID fees will not be incurred if the CBID is approved, many of those same functions and methods of raising additional funds will continue.

Assessment Methodology: How property assessments are actually calculated

Zone #	Street Frontage	Acreage of Property	Bldg Size
Zone 1	$8.50 per linear foot	$.06 per square foot of land	$.114 per square feet of building
Zone 2	$5.30 per linear foot	$.06 per square foot of land	$.07 per square feet of building

Zone 1: Essentially most commercial property from Minnesota to Willow Street, including all properties fronting Lincoln Avenue (see map).

Zone 2: Essentially most commercially zoned property from Willow Street to Pedro Street (just past the Coe bridge), including all properties fronting Lincoln Avenue (see map).

Methodology Example (for a property in Zone 1):

Street Frontage	50 linear feet x $8.50	= $ 425.00
Acreage of Property	7,405 sq. feet x $ .06	= $ 444.30
Building Size	2,388 sq. feet x $ .114	= $ 272.23
Annual total = $1,141.53

Methodology Example (for a property in Zone 2):

Street Frontage	50 linear feet x $5.30	= $ 265.00
Acreage of Property	7,405 sq. feet x $ .06	= $ 444.30
Building Size	2,388 sq. feet x $ .07	= $ 167.16
Annual total = $ 876.46