Overview

On July 30, 2024, City Council of the City of Sausalito adopted a resolution of formation to establish the Downtown Sausalito Property Business Improvement District (DSPBID). The DSPBID is a Property and Business Improvement District established for a 5-year period from January 1, 2025 to December 31, 2029, by a consortium of property and business owners within the DSPBID area.

DSPBID

The purpose of establishing this DSPBID is to provide and manage activities, services and improvements for Downtown Sausalito, an important, historic, and beautiful Bay Area business center, including demand creation, events, public space development, marketing and promotion, social media, landscaping, cleaning of the public rights-of-way, beautification services, District administration services, programs, and improvements. The DSPBID is a benefit assessment district that will enable the DSPBID property owners and businesses, working as a unit, to fund needed property and business-related improvement programs, services, and programs above what is provided by the City of Sausalito and that benefit DSPBID property owners and businesses.

Financing

The DSPBID is a Benefit assessment district consisting of real property (68 parcels and 44 property owners, and no residential condominiums). No bonds shall be issued to fund DSPBID programs.

DSPBID property assessment revenue for Year 1 is projected to be $235,526. The Assessment Engineer has determined that general benefits equate to 2% of the total adjusted DSPBID program costs resulting in a gross budget of $240,332 including $4,806 in general benefits. General benefit costs shall be derived from non-assessment revenue sources such as grants, program income, credits, interest, memberships, and other sources.

For more information about the DSPBID, please refer to the DSPBID Management District Plan.

Board Meetings

The first Interim Board meeting for the DSPBID is scheduled to meet on Thursday, September 5, 2024 at 9am in Sausalito City Council Chambers at 420 Litho Street.

The Interim Board will meet to discuss the election of interim officers, set the name of the District Management Corporation, discuss District Activities, Priorities, and Bylaws, review a Sample Disbursement Agreement, and receive public comment.