RES 87337 - Laserfiche WebLink

Attachment A Annually, 17.78% - 18.9% of the total revenue generated by the sales tax will be allocated to the fourteen cities and the County for the improvement of local transportation including streets and roads. The distribution of the funds will be based on utilization of the Mayors Conference Formula for gas tax and the following: A. Years 1-5 1. 10.3% of the annual revenue will be allocated to all the cities .2. 7.48% of the annual revenue will be allocated to the North County cities only. B. Years 6-15 1. 10.3% of the annual revenue will be allocated to all the cities and the County. 2. 8.6% of the annual revenue will be allocated to the North County cities until the North cities have reached a ceiling of $159 million. When that point is reached, the allocation will return to its original 7.48%. The Mayors Conference Formula for gas tax divides the money based 50% on population and 50% on road miles. North cities include Albany, Alameda, Oakland, Piedmont, Berkeley, Emeryville and San Leandro. South cities include Hayward, Newark, Union City, Frenont, Livermore, Pleasanton and Dublin. These funds will be available to jurisdictions for street and road maintenance as well as other transportation projects. This is meant to include transit projects. One particular project has been raised for consideration: The LAVIR Bus Terminal Facility. This facility is expected to cost approximately $4 million to complete. The only sales tax money usable on this project would be that allocated to the cities and county for local projects. Section 4 of Proposition 13 requires that substantial new tax revenues not replace property taxes cut back because of Proposition 13. Since under the Expenditure Plan substantial revenues will flow to local governments and jurisdictions, the County's Special Counsel has advised that the Expenditure Plan include language similar to that included in Section