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<br /> EXHIBIT B <br /> GEOBASED REVENUE INFORMATION PROGRAM <br />Municipal Resource Consultants (MRC) hereby agrees to provide to the City of <br />Redwood City (City) a Geobased Revenue Information Program (GRIP). The purpose, <br />scope, procedures, timing, deliverables, compensation and licensing agreement <br />(attached) are set forth as follows: <br />1. BACKGROUND <br />1.1 THE NEW REALITY: SELF-RELIANT CITIES <br /> The 1990s ushered in a new reality for every city in California: fiscal self- <br /> reliance. Faced with permanent cutbacks in federal and state assistance, each <br /> city is dependent upon the revenue generated from its own economic base to <br /> define the level of services it can afford to provide. <br />1.2 CITY SERVICE FUNDING EQUATION <br /> To sort out and better understand the strategic significance and ramifications of <br /> self-reliance for California cities, MRC has developed what we call the "City <br /> Service Funding Equation" to express the fundamental elements of this new <br /> reality, as follows: <br /> Economic Base X Revenue Structure = City Service Funding Capacity <br /> MRC's City Service Funding Equation simply says that a city's service funding <br /> capacity is determined by - and the product of - its revenue structure applied <br /> across its economic base. <br /> Economic Base - Includes land, buildings and the users thereof (commercial, <br /> industrial, institutional, residential, governmental) that are located in the City. <br /> Revenue Structure - Consists of: <br /> 0 Non-Discretionary Taxes - Those revenue sources that a city does not <br /> have the authority to directly control, such as: <br /> 0 Property Tax <br /> 0 Sales/Use Tax <br /> 0 State Subventions <br /> 0 Discretionary Taxes - Those revenue sources that a city does have the <br /> authority to directly control, such as: <br /> 0 Business License Tax <br /> 0 Transient Occupancy Tax <br /> 0 Franchise Fees <br /> 0 Utility Users Tax <br /> 1 <br /> .--,.. . ~ <br />