pages: CityCouncil/2008-12-02.pdf, 3
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CityCouncil | 2008-12-02 | 3 | Mayor Johnson stated the average per capita sales tax for Alameda County is $126; Alameda is still below the county average. Councilmember Matarrese inquired whether the $1.1 million assigned to Alameda by the State Board of Equalization skews the numbers. The Interim Finance Director responded the amount is not reflected in the current losses; stated the City would start repayment in the second calendar year quarter of Fiscal Year 2010; eight quarters are the maximum allowed for repayments. Councilmember Matarrese stated the mistake was not the City's. The Interim Finance Director stated the State Board of Equalization will split the money if the City can provide proof that the firm existed in Alameda in 1999-2000. Vice Mayor Tam stated sales tax transactions for the area south of Lincoln on Park Street do not capture the full affect of the theater opening; numbers should go up. Mayor Johnson stated the City is doing pretty well; that she is impressed that the City is still holding ground and is ahead in some areas. The Interim Finance Director stated sales tax has increased approximately two to three percent more than expected from July to December. Mayor Johnson stated sales tax revenue would increase by $4.2 million if the City were closer to the county spending average. Councilmember deHaan stated that he does not want revenue gain to be at the expense of something else. Councilmember deHaan moved approval of the staff recommendation. Councilmember Matarrese seconded the motion, which carried by unanimous voice vote - 5. (08-501) Recommendation to accept the Special Tax and Local Bond Measure Annual Report. Vice Mayor Tam stated that Measure O Fiscal Year 2007-2008 - bond revenues, including interest income, seem to be less than expenditures; inquired whether the issue would put the City in a Regular Meeting Alameda City Council 3 December 2, 2008 | CityCouncil/2008-12-02.pdf |