Item 17 - Laserfiche WebLink

Page 4 of 6 for both services and infrastructure repair and replacement. The General Obligation bond requires two-thirds voter approval, and funds can only be used for infrastructure (capital projects) related costs such as building and park renovation. The City’s current sales tax rate is 10.25% and the prospective rate increase is 0.5% for 10 years. A half-cent sales tax increase will bring Pleasanton’s rate to 10.75% if approved by the voters. The sales tax rate for six cities in Alameda County is already at 10.75%, and one city is at 10.50%. A new district tax is expected to generate approximately $10 million in annual revenue that can be used to support essential City services and programs. The proposed amount for the General Obligation bond is $200 million. The average annual tax rate per $100,000 assessed value is estimated at $20. The annual average tax rate for the median assessed value single-family home is estimated at $176. The annual revenue/debt service payment is estimated at $12.5 million. Several cities in Alameda County such as Alameda, Berkeley, and Fremont have issued General Obligation bonds. The City’s hotel tax rate is 8%, and the proposed increase is 4% bringing the new rate to 12%. The Cities of Dublin and Livermore also have an 8% hotel tax rate, the City of Hayward’s rate is at 8.5%, and the tax rates for nine other cities in Alameda County are at 10%, 12%, 13%, and 14%. The increase in annual revenue is estimated at $2 million. The ballot language for the three measures is presented below. Please note that the survey focused more on sales tax as this potential measure would bring in revenue to help balance the General Fund budget while providing some funding to repair and replace facilities, stormwater systems, parks, and other City infrastructure. PLEASANTON QUALITY OF LIFE MEASURE. To maintain and protect essential city services, such as police and fire protection; 9-1-1 emergency response; disaster preparedness; pedestrian safety; park maintenance; pothole repair and street maintenance; recreation programs; open space preservation; and other general government uses; shall the City of Pleasanton’s measure to establish a ½¢ sales tax, providing approximately $10,000,000 annually for 10 years, keeping all funds local, with annual audits and public spending disclosure, be adopted? PLEASANTON DRINKING WATER SAFETY AND INFRASTRUCTURE REPAIR MEASURE. To ensure the continued safety and quality of local drinking water, and prevent flooding during major storms — by installing new infrastructure and repairing existing buildings, parks, playgrounds, sidewalks, streets, and stormwater systems — shall the City of Pleasanton issue $200,000,000 in bonds with an average levy of $20 per $100,000 of assessed value, generating approximately $12.5 million annually over 30 years, requiring independent oversight and published audits? PLEASANTON QUALITY OF LIFE MEASURE. To maintain and protect essential city services, such as police and fire protection; 9-1-1 emergency response; disaster preparedness; park and street maintenance; recreation programs; and other general government uses; shall the City of Pleasanton’s measure increasing the existing transient occupancy (hotel) tax from 8% to 12% (paid only by hotel/motel guests), providing approximately $2,000,000 annually, until ended by voters, keeping all funds local, with annual audits and public spending disclosure, be adopted? Page 220 of 371