Res19 15780 - Laserfiche WebLink

Browse Search

REDWOOD CITY 7.2 Local Funding Strategies that Require Ballot Process There are two basic types of balloted measures appropriate for stormwater funding, namely, special taxes and property -related fees. Successfully implemented balloted approaches have the greatest capacity to significantly and reliably fund stormwater management. Special Taxes: Special Taxes are decided by registered voters and require a two-thirds majority for approval. Special taxes are well known to Californians and are utilized for all manner of services, projects, and programs. They are usually legally very stout and flexible and can support an issuance of debt such as loans or bonds in most cases. There are several types of special taxes, but the most common for stormwater services are parcel taxes. Parcel taxes are levied against real property and can be calibrated for some parcel metric such as acreage, size of building, impermeable area, type of use, or simply a flat rate where each parcel pays the same amount. Examples of parcel taxes that have been successfully implemented for stormwater services are in the cities of Culver City, Los Angeles, Santa Cruz, and Santa Monica. Other types of special taxes include sales, business license, vehicle license, utility users, and transit occupancy taxes. Property Related Fee: A Proposition 218 -compliant, property owner balloted, property -related fee is a viable revenue mechanism to fund stormwater programs. Property -related fees must apply to defined services within a defined service area, and the costs of providing those services must be spread equitably over the properties that receive the services. General Obligation Bonds: Bonds are issued to raise funding up front and are repaid through a tax levied against property on the annual property tax bill. These levies are based on property value, so higher value properties pay a higher portion of these taxes. One primary restriction on GO bonds is that they can only be used for capital projects. While that includes land acquisition, planning, design and RWC GREEN INFRASTRUCTURE PLAN GREEN INFRASTRUCTURE PLAN 34 JUNE 2019 ATTY/RESO.0075/CC RESO APPROVING THE GREEN INFRASTRUCTURE PLAN — EXHIBIT RESO. NO. 15780 REV: 06-20-19 PR MUFF NO. 802