Speaker 1: Report from Economic and Property Development Recommendation to approve the Magnolia Industrial Group Property and Business Improvement District Annual Report and assessment for the period of December 1st, 2015 through November 30th, 2016. District one.
Speaker 0: Staff report.
Speaker 10: Mr. Conway.
Speaker 0: Mayor Garcia, members of the City Council, decide on releasing the Magnolia Industrial Group Property Business Improvement District. The approval of its annual report and the extension of the management agreement with Magnolia Industrial Group for an additional one year period as allowed by their management plan. The Big Board is allowed to raise this assessment rate by 4% per year, but the board voted instead to raise the assessment by 1.56%. The city owns property within the bid boundaries and its assessment is $1,511, which its budget budgeted in the Department of Public Works. Staff request approval of the recommended action. And this concludes my report. Thank you. There's been a motion by Councilwoman Gonzales and a second by Councilmember Ringa. Is there any public comment on this item? Kate. Seeing nonmembers, please go and cast your votes.
Speaker 1: Councilman Austin. Motion carries.
Speaker 0: Item 14.
Speaker 1: A report from Economic and Property Development Recommendation to execute an amended and restated lease and Operations Agreement and concurrent assign assignment to Urban Commons District two.
Recommendation to approve the Magnolia Industrial Group Property and Business Improvement District Annual Report and Assessment for the period of December 1, 2015 through November 30, 2016, automatically extending the current agreement with the Magnolia Industrial Group, Inc., for a one-year period; and authorize payment of $1,511 in City property assessments from the General Fund (GF) in the Public Works Department (PW).  
(District 1)