TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Urban Development Director
SUBJECT:
title
Adopting the Downtown Parking District FY 2016-17 budget and setting the business paid parking tax
Ward(s): Ward 1
Councilor(s):Bennett
Neighborhood(s): CANDO
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ISSUE:
Shall the City Council adopt Resolution No. 2016-9 adopting the Downtown Parking District FY 2016-17 budget and setting the business paid parking tax?
RECOMMENDATION:
recommendation
Adopt Resolution No. 2016-9 adopting the Downtown Parking District FY 2016-17 budget and setting the business paid parking tax.
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SUMMARY AND BACKGROUND:
Salem Revised Code 7.110 requires the Council to adopt, by resolution, a budget for the Downtown Parking District (District) and set the tax for each fiscal year. The District was established in 1976 to provide funding for economic promotion and public parking within the downtown core. Administration of the District is the responsibility of the City Manager.
In October 2013, Council adopted Initiative Petition 001-2013-IP, which capped annual increases to the downtown parking rate at the lesser of 2% or the general consumer price index (CPI) for Portland, Oregon. Portland’s CPI for the last twelve months has been 1.2%. Therefore the maximum amount parking tax rates can increase is 1.2%.
The Downtown Advisory Board (DAB) provides comments and recommendations on District policies, as well as recommendations on a budget for the operation of the District. DAB’s recommended budget was forwarded to Council for consideration and approval, along with the City Manager’s recommended budget.
Both the City Manager’s recommended budget and DAB’s recommended budget included an increase to both the minimum tax rate and the per space rate. The budget, as presented, was approved by the Budget Committee and forwarded to Council for adoption.
For FY 2016-17, annual parking tax rates are proposed to increase as follows:
Current Rate Proposed Rate
Minimum Tax $408.00 $408.49
Per space rate $146.98 $147.16
FACTS AND FINDINGS:
The Budget Committee recommended a FY 2016-17 operating budget for the Downtown Parking Fund of $2,162,970, which includes rates of $147.16 per space and a $408.49 minimum tax rate. The proposed operating budget is shown in Exhibit A of Resolution No. 2016-9 (Attachment 1).
Renee K Frazier
Financial Services Supervisor
Attachments:
1) Resolution No. 2016-9
06/13/2016