A RESOLUTION OF INTENTION TO MODIFY THE BASIS AND METHOD OF LEVYING ASSESSMENTS WITHIN THE SUNSET STRIP BUSINESS IMPROVEMENT DISTRICT BY ESTABLISHING A PROCEDURE FOR WAIVER OF PENALTIES AND/OR INTEREST ON DELINQUENT ASSESSMENTS [L. BIERY, P. KESPRADIT, L. D’AMBROSIA, E. TSIPIS, A. RUIZ, J. JIMENEZ, M. CROWDER, L. LANGER]

Plain Language Summary

This resolution aims to modify how assessments are levied within the Sunset Strip Business Improvement District by introducing a procedure to waive penalties and interest on late payments. This change could benefit business owners on the Sunset Strip by providing financial relief and flexibility, potentially encouraging timely payments and reducing financial strain during challenging periods.