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Resolution Declaring Results of Majority Protest Proceedings to Renew the SATMD <br />July 1, 2025 <br />Page 6 <br />5 <br />1 <br />5 <br />3 <br />July 1, 2025 FINAL PUBLIC HEARING <br />If written protests are received from the owners of businesses in <br />the established SATMD which will pay fifty percent (50%) or <br />more of the assessments proposed to be levied and protests are <br />not withdrawn so as to reduce the protests to less than fifty <br />percent (50%), no further proceedings to levy the proposed <br />assessment against such businesses shall be taken for a period <br />of one (1) year from the date of the finding of a majority protest <br />by the Council. <br />At the conclusion of the public hearing to renew the SATMD, the <br />Council may adopt, revise, change, reduce, or modify the <br />proposed assessment or the type or types of improvements and <br />activities to be funded with the revenues from the assessments. <br />Proposed assessments may only be revised by reducing any or <br />all of them. <br />If the Council, following the public hearing, decides to renew the <br />SATMD, the Council shall adopt a resolution of formation. <br /> <br />FISCAL IMPACT <br />The City will receive a fee of two percent (2%) of the amount collected to cover its costs <br />of administration. Funds are received from Community Development Agency (CDA) <br />account 09601001-24054 and deposited in Finance Management Services Agency <br />(FMSA) account 01110002-57000. <br /> <br />EXHIBIT <br />1. Resolution Declaring Results of Majority Protest Proceedings to Renew the SATMD <br />2. SATMD Management District Plan <br />3. City Council Request for Information Summary <br />4. Public Notice - Proof of Publication <br />Submitted By: Michael L. Garcia, Executive Director of Community Development <br />Approved By: Alvaro Nuñez, City Manager