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<br /> <br />HOUSING COMMISSION <br />AGENDA REPORT <br /> <br />March 21, 2024 <br />Item 6 <br />TITLE: DISCUSSION – FUNDING PLEASANTON’S FUTURE <br /> <br />SUMMARY <br />Since early 2023, staff has been analyzing options for new revenue sources to address <br />fiscal deficits and support ongoing City services and programs. Staff is now engaging in <br />conversations with various stakeholders and community groups to inform that process. <br />The goal is to provide broad community input to the City Council toward assessing <br />revenue measure feasibility, working together to build a secure financial future for <br />Pleasanton, and maintaining a high quality of life for all residents. <br /> <br />BACKGROUND <br />At its March 21, 2023, meeting, the City Council directed staff to place an item on a <br />future agenda to discuss revenue options, including but not limited to a potential ballot <br />measure for upcoming elections. In August 2023, the City Council directed staff to <br />assess revenue measure feasibility, including developing a communication plan to <br />share information and receive feedback from the community regarding Pleasanton's <br />needs. <br /> <br />DISCUSSION <br />The City has a longstanding history of prudent, responsible fiscal performance, and <br />Pleasanton’s current two-year budget is balanced. Since the COVID-19 pandemic, <br />revenue sources have been limited and fixed - property tax has seen modest growth, <br />sales tax is flat, and hotel tax has not rebounded. At the same time, expenses continue <br />to grow, with cost drivers that include inflation, increased pension liability and insurance <br />costs, new police and fire agreements, expansion into new service areas over time, <br />infrastructure maintenance and replacement, and unfunded requirements to meet State <br />regulations. <br /> <br />The recent community survey and citywide strategic plan indicate that residents' top <br />priorities include fiscal sustainability, public safety and fire protection, infrastructure and <br />water quality, emergency response, keeping city buildings in good condition, and <br />programs for youth and seniors. <br /> <br />NEXT STEPS <br />Staff is engaging in community conversations to understand community needs and <br />evaluate possible solutions, including potential revenue measures, to maintain a <br />balanced budget and continue to deliver the same level of services that Pleasanton <br />residents expect.