Title
Presentation on Recommendations for CIP Sales Tax Renewal
Body
Issue/Request:
Decision on proposal for sales tax renewal is needed.
Key Issues:
Current 1/2-cent CIP Sales Tax will expire on March 31, 2018.
Continuing the sales tax will require voter approval.
An April 2017 vote is proposed to avoid a possible gap in revenue.
The types of projects and programs, specific projects, funding levels and the term of the renewal need to be identified.
Proposed Committee Motion:
Background:
The first 1/2-cent capital sales tax was approved by voters in November 1997 for a term of 10 years. That tax, along with revenue from the excise tax, funded 17 road projects. The tax was renewed in April 2007 for another 10 years and specifically funded six major road projects. With excess revenue in the fund another, 16 smaller road projects were added in January 2016. With the pending expiration of the current tax, PWC is working with staff to determine what types of projects and programs should be funded from a proposed renewal as well as the proposed term.
Impact/Analysis:
Continuation of the sales tax will provide significant revenue for capital projects without impacting the general fund.
Timeline:
Finish: Ordinance for April 2017 ballot due by Jan. 24, 2017
Presenter
Presenter: Dena Mezger, Director of Public Works
Recommendation
Recommendation: Staff recommends renewing the 1/2-cent CIP Sales Tax for a period of 15 years to fund transportation, transportation-related, and stormwater projects and programs.
Committee Recommendation
Committee Recommendation: