Resolution No.
STOCKTON CITY COUNCIL
RESOLUTION ADOPTING THE PROPOSED 2024 ANNUAL OPERATING BUDGET AND APPROVING THE 2023 ANNUAL REPORT FOR THE MIRACLE MILE COMMUNITY IMPROVEMENT DISTRICT The Miracle Mile Community Improvement District (“MMCID”) is a community improvement district within the City, duly formed pursuant to Stockton Municipal Code (“SMC”) Chapter 3.96 and as approved by the City Council, with a term beginning January 1, 2023; and The MMCID was previously operated as the Miracle Mile Property and Business Improvement District (“MMPBID”), which began operations in January 2007 and terminated on December 31, 2022; and A nonprofit corporation named Miracle Mile Community Improvement District (“Owners’ Association”) was established to promote and maintain the MMCID as its owners’ association; and The City Council approved an agreement on December 6, 2022, with the Owners’ Association to operate and manage the MMCID for a 20-year term (the “Management Agreement”), effective January 1, 2023, and expiring December 31, 2042; and
The Management Agreement requires submission to the City Council for approval the annual operating budget and annual report on activities pertaining to the MMCID; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:
The City Council hereby approves the MMCID 2024 Annual Operating Budget (Exhibit 1) and MMPBID 2023 Annual Report (Exhibit 2), copies of which are attached hereto and incorporated by reference.
2. The proposed amounts of assessments are in compliance with SMC Chapter 3.96 and those portions of California Streets and Highway Code Division 18, Part 7, the “Property and Business Improvement District Law of 1994,” made applicable by SMC Chapter 3.96, and the charge is levied without regard to property valuations. //
3. The City Manager is hereby authorized to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.
PASSED, APPROVED, and ADOPTED May 21, 2024 .
KEVIN J. LINCOLN II
Mayor of the City of Stockton
ATTEST:
ELIZA R. GARZA, CMC
City Clerk of the City of Stockton