Meeting_Body
FINANCE, BUDGET, AND AUDIT COMMITTEE
MARCH 19, 2026
Subject
SUBJECT: DOWNTOWN INDUSTRIAL BUSINESS IMPROVEMENT DISTRICT RENEWAL 2027
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
AUTHORIZE the Chief Executive Officer (CEO) or their designee to execute a Petition to Renew Los Angeles County Metropolitan Transportation Authority's (LACMTA) participation in the Downtown Industrial District Property-Based Business Improvement District (BID) for a seven (7) year term commencing January 1, 2027 and expiring December 31, 2033, for a total estimated amount not to exceed $802,365.79 over the term of the BID renewal.
Issue
ISSUE
LACMTA owns 18 parcels within the BID boundaries, representing 4.47% of total district assessments. The renewal of the BID requires the submission of favorable petitions from property owners representing more than 50% of total assessments. Board approval is required as the proposed seven-year term and total cost exceeds the CEO's delegated authority of $500,000 and the five-year term limit.
Background
BACKGROUND
Under the 1994 Property and Business Improvement District law, the State of California provided a legal framework for the formation of property-based assessment districts through approval by property owners representing a majority (50%) of total assessments within a defined boundary. Approved districts must be renewed upon expiration of their authorized terms. In 2019, the Board updated its 2014 Guidelines for Participation in BIDs, which are included in Attachment A.
The Downtown Industrial District BID was originally established in 1999. The BID area is roughly bounded by 3rd Street on the north, Alameda Street on the east, Olympic Boulevard and 8th Street to the south, and San Pedro Street to the west. (see Attachment B - BID Map). Land uses within the BID primarily consist of retail, wholesale, and industrial activities, including several LACMTA-owned operational facilities.
LACMTA...
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