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AUTO CENTER BUSINESS IMPROVEMENT DISTRICT
ANNUAL ASSESSMENT &
BID FUNDING AGREEMENT
City Council
September 5, 2023
Community and Economic Development Department
Finance Department
RiversideCA.gov
2 RIVERSIDE AUTO CENTER
- Riverside Auto Center fe atures 25 dealerships and 32 brands, and offers over 8,000 new and used vehicles
- Rivals Ontario Auto Center as largest in Inland Empire - Riverside Auto Center feat ures a large electronic sign along the 91 Freeway
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3 BUSINESS IMPROVEMENT DISTRICT (BID)
- July 26, 2011 – City Council approved formation of Auto Center Business Improvement District
– General business and event promotions
– Advertise Auto Center BID Businesses
– Electronic display sign operation and maintenance
– Maintenance and repair of entryway monuments and
landscaping
- Each business within the Au to Center BID assessed
$6,100 per year
RiversideCA.gov
4 BID FUNDING AGREEMENT
- Prior Funding Agreement
– City receives 15% of advertising time on sign for annual amount of $100,000
– Agreement expires September 1, 2023
- New Funding Agreement
– To continue under same structure for additional five years – Brought to City Council August 15, 2023
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5 RETURN ON CITY INVESTMENT
- City is allotted 15% of daily advertising on Auto Center electronic display sign
- Recent ads:
– The Cheech
– 311 Mobile App
– Explore Riverside
– City job opportunities
RiversideCA.gov
6 RETURN ON CITY INVESTMENT
- Auto Center sign is viewed over 500,000 times per week - Valuation of City’s time on sign is approximately
$170,000 based on standard rates for ads on digital
billboards
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7 ECONOMIC IMPACT
- Autos and Transportation sector accounts for about 25% of sales tax dollars collected annually
- FY 22/23 sales tax from sector estimated at $22.5 million - Autos and Transportation sector accounts for about 19% of Measure Z tax, about $16 million
RiversideCA.gov
8 ANNUAL APPROVAL PROCESS
- Section 36533 California Streets & Highways Code
requires that each year City Council:
- Adopt a Resolution of Intention, file an Annual Report submitted by the Riverside New Car Dealers Association, set a public hearing
• Completed August 15, 2023
– Conduct a public hearing and rule on any public protests – Confirm the Annual Report
– Adopt a Resolution authorizing the Auto Center BID
assessments for the next Fiscal Year
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9 BID BOUNDARIES AND ASSESSMENT
-N o c h a n g e s p r o p o s e d t o
the Auto Center BID
boundaries
-N o c h a n g e s p r o p o s e d t o
the Auto Center BID
assessment amount
RiversideCA.gov
10 Strategic Priority 3 – Economic Opportunity
Goal 3.1 – Facilitate partnerships and programs to develop, attract and retain innovative business sectors.
Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
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11 That the City Council:
1. Conduct a public hearing to hear and rule on any
protests to the Auto Center BID assessment and
projects for FY 2023-2024
2. Adopt a Resolution confirming the Annual Report of
the Riverside New Car Dealers Association acting in its capacity as the Advisory Board to the Auto Center
Business Improvement District and levying assessments
for the Fiscal Year beginning September 1, 2023
RECOMMENDATIONS
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