Business Improvement Assessments are spent exclusively on promoting and improving the downtown area. Assessments are collected by the City of Santa Cruz and forwarded directly to the Downtown Association of Santa Cruz.
How are they calculated?
Business Improvement Assessments are based on the following formula:
(Business Area X Rate [.40] X Type X Zone) + $50.00 = Annual Assessment
Annual Assessment / 2 = Semi-Annual Assessment
Example: (1,000 Sq Ft) x .40 x 100% (Type 1) x 60% (Zone 2) + $50.00 = $290.00 / 2 = $145.00 Semi-Annual Assessment
|BUSINESS IMPROVEMENT RATES:|
|TYPE 1 - 100%||RETAIL & FOOD|
|TYPE 2 - 60%||FINANCIAL, BARS, & THEATERS|
|TYPE 3 - 40%||WHOLESALE TRADE, SERVICES & PROFESSIONS, AUTO DEALERS|
|ZONE 1 - 100%||CAP OF 10,000 SQ FT|
|ZONE 2 - 60%||CAP OF 10,000 SQ FT|
Note: Please refer to the Business Improvement Info Sheet to determine your Zone.
Who pays Business Improvement Assessments?
Businesses operating in the Downtown Parking and Business Improvement District on January 1 and July 1 are billed for the semi-annual Business Improvement Assessment. A penalty is charged for all bills not paid by January 31 and July 31.
Who can I call if have more questions?
Please call the Downtown Association at (831) 332-7422 or the City Finance Department at (831) 420-5070, email firstname.lastname@example.org. We will be happy to answer any questions you may have.