02/13/1985 Meeting (2) - Laserfiche WebLink

Home Browse Search

M E M 0 RAN DUM February 7, 1985 To: City Council e From: War7~WOng, Finance Director Subject: DDD Tax Levy/Election A major funding source for the Downtown Free Parking Program is the ad valorem tax on the right to own property in the Downtown Development District. Legal Counsel has advised staff that although the DDD Tax is not a property tax, per se, it is advisable to place the levy before the City's voters for approval. The Downtown Commission has approved an FY86 Budget, which will be presented to you in April, for the Free Parking Program requiring a DDD Tax levy of $192,353. Since this is a non-Primary Election year, placement of the levy on the ballot will cost the Downtown Development District Fund between $6,000 and $18,000, depending on the number of overlapping jurisdictions having measures/offices on the ballot. It appears that there will be three other jurisdictions on the March 26 ballot. Further~ the City is planning to place the Reconstruction and Widening of 6th and 7th Avenues measure on the March ballot. Thus, the City can minimize the cost to the DDD and General Funds by having both the DDD Levy and 6thj7th Project on the March ballot. To place the measure on the March ballot, we are requesting Council action ~ on the attached resolution and ordinance to place the DDD Levy on. the March ~ 26th special election ballot. During it's budget review proc~ss, the Budget Committee will review the DDD Budget as 'part of its preparation of the FY86 Budget Recommendation to Council. The Downtown Commission endorsed this levy amount and placement of the levy on the March 26th"special election at its December 11, 1984 meeting. Attachments -- 2 cc: D. Whitlow G. Long J. Porter M. 1'1usso FNWGW529 -