TITLE
Recommendation to request City Attorney to prepare an ordinance establishing a temporary Transactions and Use (Sales) Tax for general purposes at the rate of 1% for six years then declining to .5% for four years on the sale and/or use of all tangible personal property sold at retail in the City, to be placed on the ballot at the June 7, 2016 municipal election, and any and all documents related thereto. The tax will sunset after 10 years;
Request City Attorney to prepare a "rainy day" fund ballot measure so that the first 1% of any new revenue source created is placed into a special fund to be used to offset the impact of future recessions; and
Request City Attorney to prepare an advisory resolution to accompany the Transactions and Use (Sales) Tax to specify the council's intention to prioritize infrastructure repairs and restoration of public safety resources when allocating those funds.
DISCUSSION
The City of Long Beach is facing two large challenges: unfunded infrastructure and public safety needs.
A recent report from the City Manager shows that Long Beach has $2.8 billion in unfunded infrastructure needs. While the City spends more than $65 million a year on capital infrastructure, many of our local streets, sidewalks and alleys are in need of repair. The City also needs to upgrade its water systems for conservation and storm drain systems for neighborhood protection and water quality. The cost to repair and upgrade our public infrastructure increases every year we defer these investments.
The City also needs to hire additional police officers to combat increasing crime rates that are climbing across the state, and to restore its fire staffing to maintain 911 paramedic response times at stations across the city. Maintaining and growing the City's emergency medical and public safety capabilities is critical as our first responders face new safety challenges.
FISCAL IMPACT
Staff time necessary to prepare the items.
SUGGESTED ACTION
Appr...
Click here for full text