HomeMy WebLinkAbout080123 Special Session Transportation Benefit District Board Meeting Packet- Added after MeetingTransportation Benefit District (TBD)
District Special Meeting
August 1, 2023
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0 Revenue Optiona
4D Interlocal agreement with the City
41 Project list and need — See Comprehensive Streets Program
0 Appoint pro and con committees
GO Material Change Policy
Sales and Use Tax
Vehicle License Fee (Car
Tabs)
General Obligation
Bonds
Impact Fees on
Comm/Industrial
Vehicle Tolls
Excess Property Taxes
Revenue Options
$270,000/year per 0.1%
$186,000/year for $20
fee
Undetermined
Low
Uncertain
Uncertain
Less regressive/ higher
revenue. Captures high
volume of visitors who
use streets
More regressive/ less
revenue
More debt; still need
other revenue source to
repay
Adds cost to new
commercial enterprises
Equity/cost to
implement
Adds to local property
tax burden
Y
1►1
N
N
N
N
Local Improvement Variable Less system -wide N
Districts (LIDS) impact. Not an option
for existing streets
Sales and Use Tax Options
A
No action
$0/year
No change to existing Streets program.
B
Councilmanic 0.1%
$270,000/year
Quickest option to start receiving minimum TBD
(no public vote)
sales tax revenue; lowest barrier to implement.
C
Public voted 0.2%
$540,000/year
Second step in process to receive maximum TBD
sales tax.
D
Simultaneous
$810,000/year
Two-step process; net result if both voted
Councilmanic 0.1% and
is maximum TBD sales tax revenue.
public voted 0.2% (A+B)
E
Public voted 0.3%
$810,000/year
Provides highest level of transparency to citizens;
easiest to communicate. Eliminates two-step
process and possible confusion on final sales tax
rate.
F
Public voted 0.2% then
$810,000/year
Two-step process; net result if both voted is
Councilmanic 0.1%
maximum TBD sales tax revenue.
(First B followed by A)
G
0.1% then public voted
$810,000/year
Two-step process; net result if both voted
0.2%
is maximum TBD sales tax revenue.
(First A followed by B)
What Happens from Here
M3
•First meeting of
newly formed
TBD. Potential
discussion of
funding
approach including
voted and
councilmanic
options plus possible
placement of ballot
measure in
November election.
•November election
and people decide
TBD decision to
raise funds
councilmanically
may result in
revenue in 2023
■
•In effect, revenue
collected &
distributed Q2 2024
(April)
In effect, revenue
collected &
distributed as
early as Q1 2024
(January)
BIWA