CC MIIN 1976 - Laserfiche WebLink

Browse Search

r 45� � Carol Haythornewhite, real estate sales person, comnented that many other businesses benefit from real estate act�vity and suggested the proposed tax'might cause the lowering of property values in the downtown area. ' Resident, 3940 Brookline Way, urged Council to reconsider ' its�decision to��mpose a real estate conveyance tax. e John Gallardo, real estate salesman, suggested the proposed �- tax would cause the number of house+sales'in the�City to drop and the resulting revenue would be�much less than an- ticipated. Mr Fales `explained that in determining the" amount of revenue expected to�be�raised by'the tax, the • amount of total sales for several years was'used to de- termine an average and the number of sales and'the total value of properties'sold'is not expected'to fall: ' Ed Barnsley, 3971 Brookline, real estate salesman, asked if� a�lot is purchased and'developed and sold whether the tax would'have to be paid tw�ce:' It was explained that� if two transactions are involved, the`t'ax'would have'to be paid�on�each transact�on:"'Mr.' Barnsley�then recomiriended an increase in sales`tax rather than imposition of the ' conveyance tax. , ' ` ' l � Mayor Leipzig invited anyone else present who wished to speak to do so. No one else present wished to speak h�TION: Councilman Barrett moved, seconded by Councilman Biagi, to close the public hearing. ' ' '' ' , ' � ' r ', � ' • 1 The motion carried unanimously by vo�ce vote. , . . , , , The public hearing was closed at 9:17 p.m. MOTION: Title having been read, Councilman Norris introduced the following ordinance°and moved, seconded by'Counc�lman Biagi, to approve the ordinance for first reading '" , , . , � . AN ORDINANCE OF THE CITY OF REDWOOD CITY ADOPTING THE FINAL , BUDGET'OF THE CITY OF REDWOOD CITY FOR THE FISCAL YEAR ' JULY'1, 1976-JUNE 30; 1977; PROVIDING FOR'THE�APPROPRIATION AND EXPENDITURE OF ALl SUMS SET'FORTH IN SAID BUDGET; PRO-" VIDING fOR EMERGENCY EXPENDITURES, TRANSFERS, ADDITIONAL APPROPRIATIONS AND'CANCELLATION OF EXISTING APPROPRIATIONS; THE'DISPOSITION OF UNEXPENDED UNENCUMBERED MONEYS IN FUNDS AT CLOSE OF FISCAL YEAR, AMENDING THE DISPOSITION OF PROCEEDS' ' COLLECTED UNDER ARTICLE�I,'CHAPTER 32, OF THE REDWOOD`CITY CODE,' ADOPTING THE BUDGETS FOR"GENERAL IMPROVEMENT DISTRICTS N0� 1-64,'N0. 1-65, N0. 2-65'AND NO 3-65 FOR THE FISCAL YEAR JULY 1, 1976-JUNE 30, 1977, AND REPEALING ORDINANCE N0. 1635, AS AMENDED�, AND ALL ORDINANCES'�AND RESOLUTIONS IN'CONFLICT HEREWITH° ' � � � ` " ` The ordinance was approved on the following roll call vote. ' Ayes Councilmen Barrett, Biagi; Bury, Norris, and Mayor Leipzig , Noes None , Abstain Councilman Vega -6- � Reg.Mtg. 6/21/16 � '