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Att 2 - 06122023 Special Sales Tax Presentation

Fort Bragg City Council
June 12, 2023

Document
Att 2 - 06122023 Special Sales Tax Presentation
Meeting
June 12, 2023
Body
Fort Bragg City Council
Original file
6.4 MB
Text extracted from the city's file for reading and search. Open the original on legistar1.granicus.com. That file is the official record.

KEEPING FORT BRAGG'S SPECIAL ½ CENT SALES TAX FOR STREET REPAIRS 06/12/23

Special Street Sales tax measure
Fort Bragg Municipal Code (FBMC), Chapter 3.10 Special Purpose Transaction and Use Tax Road Maintenance and Rehabilitation Act (RMRA), (SB1) Road Maintenance and Rehabilitation Program FAQs

Sales Tax Revenue
Pavement Program Hi-Lights
Local Street Sales Tax 10-Year Average Annual Revenue ~ $962,700 Local Street Sales Tax 10-Year Average Annual Expenditure ~ $894,000 Local Partnership Program (LPP) Self-Help Program Contributions ~ $888,000 (since 2017) According to the City's most recent Pavement Management Report, Fort Bragg streets And Alleys are in need of $25.3 million in repairs and/or reconstruction over the next 10 years.

Keeping in place this existing dedicated funding source for maintenance and repair of Fort Bragg streets and alleys will provide approximately $13 Million in revenues over the next 10-years.

What’s next
Upcoming Projects
2022 Streets Project, is scheduled to be under construction this summer. This project will rehabilitate pavement of 8 streets, (including Franklin and Boatyard) re-stripe approximately 3.5 miles of streets, upgrade the stamped cross walks in downtown, and includes sections of sidewalk repairs along the project route. 2025 Streets Project, includes 36 street segments equivalent to approximately 6.4 miles of City Street, which will receive pavement preservation rehabilitation.

Proposed Ballot Measure
State Board of Equalizations, has indicated that the tax measure must be extended at least 110 days before the expiration to avoid lost revenues.

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