pages: CityCouncil/2016-09-20.pdf, 8
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CityCouncil | 2016-09-20 | 8 | (16-464) Resolution No. 15200, "Supporting the Bay Area Rapid Transit (BART) General Obligation Bond Measure to Fund BART's Safety, Reliability and Traffic Relief Program (40 Year Maximum Tax Measure). Adopted. Councilmember Ezzy Ashcraft stated she feels the public should hear about the BART General Obligation Bond Measure on the November ballot. Robert Raburn, BART Director, gave a brief overview of the measure. Mayor Spencer inquired how long property owners will be paying the tax. Mr. Raburn responded 48 years for the overall length of all the bonds. Mayor Spencer inquired how long will the money last after the bonds are issued. Mr. Raburn responded the plan is to issue the bonds every other year for 10 issuances; over 20 years; State law requires deliverance of 80% of the bond measure projects, which will be scrutinized by an independent oversight body. Mayor Spencer inquired if the bonds will be issued over 20 years, to which Mr. Raburn responded in the affirmative. Mayor Spencer inquired whether 80% will be spent over 20 years. Mr. Raburn responded the last bond would be issued 20 years from now; then, there would be 2 years left to perform. Mayor Spencer inquired whether property owners will be paying the tax for 48 years, to which Mr. Raburn responded in the affirmative. Mayor Spencer inquired whether there is consideration of having a station in Alameda. Mr. Raburn responded that 90% of the bond is focused on existing infrastructure, which is deteriorating; 10% will go towards access and planning studies. Mayor Spencer inquired whether the money will cover an engineering study, but not build any lines, to which Mr. Raburn responded in the affirmative. Mayor Spencer stated voters to knowing what they are voting for is important. Councilmember Ezzy Ashcraft moved adoption of the resolution supporting the BART General Obligation Bond Measure to Fund BART's Safety, Reliability and Traffic Relief Program. Vice Mayor Matarrese seconded the motion, which carried by unanimous voice vote - Regular Meeting Alameda City Council September 20, 2016 | CityCouncil/2016-09-20.pdf |