EXHIBIT A OF PETITION

Characteristics of the Old Town Business-Business Improvement Service District

Old Town Business-Business Improvement Service District Tax Rate and Exemptions:

The Old Town Business-Business Improvement Service District (the “BISD”) will be funded by a $.10 service district tax that will be levied in addition to the real property tax (current rate of $1.135, with service district tax a total of $1.235, representing an 8.8% increase in the total tax rate) on parcels of real property within the BISD.  For example, a parcel that has a taxable value of $700,000 that currently pays $7,945 in annual property taxes would be billed an additional $700 for a new total of $8,645.

Parcels of real property which are either exempt from real property taxes or strictly residential in use, as determined by the City on an annual basis, shall not be billed the annual BISD tax.

Services:

To provide benefit to the real property in the BISD, the BISD plans to provide the following services:

• Events, including marketing of such events to the DC Metro area
• Other marketing, place-making efforts and communications
• Ambassador program
• Business support services
• Advocacy

Governance:

Strong and predictable governance of the BISD will be provided through the following:

Established and functions in compliance with the law (Code of Virginia Section 15.2-2400):

• A well-defined mission statement;
• A well-defined scope of service with a target annual budget for each service, all corresponding to a predictable and consistent source of annual funding;
• Old Town Business Association, a registered 501(c)(6) organization (non-profit), will transition to become the entity whose sole function shall be the management of the BISD;
• The BISD shall be:
  • Led by an experienced and locally knowledgeable executive team;
  • Bound by articles of incorporation and legally established by-laws;
  • Overseen by a thirteen-to-fifteen member board of directors made up of key stakeholders;
    • Board members to represent business operators and owners of property within the BISD, and will include either one or two appointees by the City;
    • All initial board members shall be approved by City Council;
    • Future board members shall be recommended by a nominating committee (of existing board members) and shall be approved by the board;
    • The board will also include two additional non-voting members appointed by Visit Alexandria and Alexandria Economic Development Partnership, respectively;
    • The board will also include two additional non-voting members representing residents within or near the BISD boundaries;
    • The board expects to utilize advisory groups that represent the diversity of business types, locations and demographics of the BISD;
    • Board meetings will be open to the public and will include the opportunity for public input.

Additional constraints on the operations of the BISD will include: (i) a not to exceed annual tax rate limit (see rate above), (ii) annual City Council approval of the BISD’s service plan and budget; and (iii) a formal, legally binding procedure for a supermajority (support from owners of sixty percent of the parcels paying the BISD tax) to dissolve the BISD.