How We Came Up with $120,000,000 of Lost Revenues That The 2016 Council Rejected

posted in: Uncategorized | 0

We used Measure G as of 2022 to establish our number. A 1/8 cent sales tax passed in 2018 with Measure G currently generates $1.2 Million per year.

A 1/2 cent sales tax would equal 4x the 1/8 cent sales

If Measure G produces $1.2M with 1/8 cent, then a 1/2 cent produces $4.8 M. In 25 years when it sunsets, it would have produced a total of $120 M not taking inflation into account which would raise the number well above $4.8 Million.

If we got $4.8M every year and we are running a $4M deficit as we show in the five year forecast, we would still have $800K left over (before inflation).

Voted for the tax: Leonardis and Sayoc
Voted against the tax: Jensen, Rennie and Spector

Impact of Operating Deficits on General Fund Balance – Agenda Item #1 Special Meeting August 11, 2022

From: Phil Koen Sent: Wednesday, August 10, 2022 7:41 AM To: Rob Rennie <>; Maria Ristow <>; Marico Sayoc <>; Mary Badame <>; Matthew Hudes <> Cc: Laurel Prevetti <>; Arn Andrews <>; Gabrielle Whelan <>; jvannada; Rick Van Hoesen … Continued