title
Consideration of the East Tosa Business Improvement District 2027 Operating Plan, Budget and Proposed Assessments
body
Submitted by:
John Ruggini, Finance Director on behalf of the East Tosa Business Improvement District
Department:
Finance
A. Issue
Annual approval of the East Tosa Business Improvement District 2027 Operating Plan, Budget and Proposed Assessments for inclusion on the 2026 Property Tax Bills for affected properties
B. Background/Options
As required by municipal ordinance, the East Tosa Business Improvement District (BID) has submitted their 2027 Operating Plan and Budget for approval. Representatives from the Business Improvement District will be available to provide an overview and answer any questions.
Approval of the Business Plan allows the City of Wauwatosa to add the BID special assessment to East Tosa business' property tax bills. The Financial Affairs Committee only has the ability to approve or disapprove the Plan, as the Business Improvement District is a separate legal entity and its budget is approved by its own Board of Directors.
The BID is proposing the following assessment rates:
|
Total Assessment |
$90,865.55 |
|
Minimum |
$550 |
|
Maximum |
$5,000 |
|
Rate (per $1,000 of assessed value) |
$1.50 |
C. Strategic Plan (Area of Focus)
Priority Area One: Economic Development and Financial Resilience
D. Fiscal Impact
No impact on the City of Wauwatosa’s budget
E. Recommendation
Approval of the East Tosa Business Improvement District 2027 Operating Plan, Budget and Proposed Assessments for inclusion on the 2026 Property Tax Bills for affected properties