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File #: 2016-0587    Name:
Type: Presentation Status: Filed
File created: 10/3/2016 In control: Public Works Committee
On agenda: 10/10/2016 Final action: 10/10/2016
Title: Discussion of CIP Sales Tax Renewal
Attachments: 1. Discussion of CIP Sales Tax Renewal.pdf
Related files: 2020-3870, 2017-1652

Title

Discussion of CIP Sales Tax Renewal

 

Body

Issue/Request: This is a presentation and discussion regarding the potential renewal of the existing CIP Sales Tax including types of projects that could be funded, term of the tax, and potential revenues.

 

Key Issues:

*Current 1/2-cent Capital Improvements Projects Sales Tax will expire March 31, 2018.

 

Background:

The original CIP Sales Tax was approved by voters in 1997 for 10 years. Combined with funding from the excise tax, the tax funded construction of 17 road projects. The tax was renewed in 2007 for the period of April 2008 to March 2018. This tax initially funded 6 major road projects.  Significant savings on these projects enabled the City to add 16 projects in the FY17 CIP. Both of these taxes were limited to transportation projects through the ballot language. State statute is broader and allows the funds to be used for any capital improvement.

 

Impact/Analysis: This tax has allowed the City to complete millions of dollars worth of needed transportation projects that would not have been possible otherwise. It has also allowed funding in the permanent 1/2-cent Transportation Sales Tax fund to be used for a much higher level of road maintenance than would not be possible if funds were split between maintenance and capital projects.

 

Timeline:

 

 

Presenter

Presenter: Dena Mezger, Director of Public Works

 

 

Committee Recommendation

Committee Recommendation: