San Diego City Council has approved a new commercial marketing district zone, designed to market downtown office buildings with at least 50,000 square feet of space.
Property owners will have an opportunity to vote on whether to modify an existing downtown property and business improvement district, according to a city staff report. The new zone would initially be in place for three years, generating a projected $351,000 annually, with owners of 55 office buildings paying an assessment of 3.5 cents per square foot.
A majority of property owners have already voted to give preliminary approval to the new zone. The zone would be subject to renewal in 2015 if approved by city officials.