pages: CityCouncil/2008-07-15.pdf, 6
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CityCouncil | 2008-07-15 | 6 | say points would be gained by dropping the amount a few dollars. Vice Mayor Tam inquired whether lack of elasticity is typical, to which Mr. Below responded definitely. Mr. Below continued the presentation. Vice Mayor Tam requested clarification on projected revenue generation; stated the City would expect to receive $4.1 million by using the $5.40 per $1,000 value calculation. $14.50 per $1,000 of value would generate $6.9 million. The Deputy City Manager stated $6.9 million would be added to the $4.1 million. Vice Mayor Tam stated $4.1 million is based on a conservative assumption that real estate turnover would continue at the current level. The Deputy City Manager stated that she did not make any market slowdown or turnaround adjustments. The City Manager stated the $4.1 estimate is less than what was anticipated for last fiscal year; assumptions were made that the transaction volume would stay the same. Councilmember Gilmore stated Council knew that the budget would need to be revisited in three months all realistic cuts have been made that would not greatly affect the level of City services. Mayor Johnson inquired how the budget is affected by mutual aid response costs. The City Manager responded State mutual aid costs are reimbursed at the overtime rate. Mayor Johnson inquired whether the State reimburses the City for overtime incurred within the City when mutual aid calls are requested. Councilmember deHaan inquired whether the City is reimbursed at the City's rate, not the State flat rate. The City Manager responded information would be provided. Councilmember deHaan inquired whether there is a list of comparables [tax rate for other Alameda County cities] . Regular Meeting Alameda City Council 6 July 15, 2008 | CityCouncil/2008-07-15.pdf |