...Title
Proposed Changes to the Spending Priorities and Percentage Allocations Measure E Real Property Transfer Taxes. - NOT TO BE HEARD BEFORE 1:30 P.M. AND TO BE HEARD CONCURRENTLY WITH ITEM 3.4
...Recommendations
(a) Adopt a resolution related to estimated 2023-2024 Measure E revenues:
(1) Approving by two-thirds (2/3rds) affirmative vote the following percentage allocations as included in Manager’s Budget Addendum #2 of the 2023-2024 Proposed Operating Budget for the spending of Measure E revenues totaling $50.0 million anticipated to be received in Fiscal Year 2023-2024:
(i) 5% for administration with the remaining revenue allocated as follows:
(ii) 0% for the creation of new affordable housing for extremely low-income households;
(iii) 0% for the creation of new affordable housing for low-income households;
(iv) 0% for the creation of new affordable housing for moderate-income households;
(v) 20% for homeless prevention, gender-based violence programs, legal services and rental assistance; and
(vi) 80% for homeless support programs including shelter construction and operations.
(2) In the alternative to (a)(1), approve by majority vote to maintain the current allocation under Council Policy 1-18, Section 22, of Measure E spending priorities for the 2023-2024 Proposed Budget for the spending of Measure E revenue totaling $50.0 million anticipated to be received in Fiscal Year 2023-2024; and
(3) In the alternative to (a)(1) or (a)(2), approve by two-thirds (2/3rds) affirmative vote an alternative allocation for Measure E spending priorities for the 2023-2024 Proposed Budget for the spending of Measure E revenue totaling $50.0 million anticipated to be received in Fiscal Year 2023-2024.
(b) Adopt a resolution related to prior year Measure E revenues:
(1) Approving by two-thirds (2/3rds) affirmative vote the following percentage allocations as included in Manager’s Budget Addendum #2 of the 2023-2024 Proposed Operating Budget for the combined spending of uncommitted Measure E revenues totaling $87.0 million, comprised of $17.1 million from Fiscal Year 2020-2021, $20.4 million from Fiscal Year 2021-2022, and $49.5 million from Fiscal Year 2022-2023:
(i) 22% for administration, which is inclusive of a revenue stabilization reserve to protect funding commitments from an anticipated revenue shortfall, with the remaining revenue allocated as follows:
(ii) 21% for the creation of new affordable housing for extremely low-income households;
(iii) 57% for the creation of new affordable housing for low-income households;
(iv) 0% for the creation of new affordable housing for moderate income households;
(v) 4% for homeless prevention, gender-based violence programs, legal services and rental assistance; and
(vi) 18% for homeless support programs including shelter construction and operations.
(2) In the alternative to (b)(1), approve by two-thirds (2/3rds) affirmative vote the following percentage allocations as included in the Mayor’s June Budget Message for Fiscal Year 2023-2024 for the combined spending of uncommitted Measure E revenues totaling $87.0 million, comprised of $17.1 million from Fiscal Year 2020-2021, $20.4 million from Fiscal Year 2021-2022, and $49.5 million from Fiscal Year 2022-2023:
(i) 17% for administration, which is inclusive of a revenue stabilization reserve to protect funding commitments from an anticipated revenue shortfall, with the remaining revenue allocated as follows:
(ii) 20% for the creation of new affordable housing for extremely low-income households;
(iii) 31% for the creation of new affordable housing for low-income households;
(iv) 0% for the creation of new affordable housing for moderate income households;
(v) 4% for homeless prevention, gender-based violence programs, legal services and rental assistance;
(vi) 45% for homeless support programs including shelter construction and operations.
(3) In the alternative to (b)(1) or (b)(2), approve by a majority vote to maintain the current allocation under Council Policy 1-18, Section 22, of Measure E spending priorities for the combined spending of uncommitted Measure E revenue totaling $87.0 million, comprised of $17.1 million from Fiscal Year 2020-2021, $20.4 million from Fiscal Year 2021-2022, and $49.5 million from Fiscal Year 2022-2023.
(4) In the alternative to (b)(1) or (b)(2), approve by two-thirds (2/3rds) affirmative vote an alternative allocation to the 2023-2024 Proposed Budget for the combined spending of uncommitted Measure E revenue totaling $87.0 million, comprised of $17.1 million from Fiscal Year 2020-2021, $20.4 million from Fiscal Year 2021-2022, and $49.5 million from Fiscal Year 2022-2023.
PLEASE NOTE: APPROVAL OF (A) and (B) CHANGING THE PERCENTAGE ALLOCATIONS REQUIRES AFFIRMATIVE VOTES OF EIGHT MEMBERS (2/3) OF THE CITY COUNCIL. (Council Policy 1-18, Section 22(c)(2)).
CEQA: Not a Project, File No. PP17-008, General Procedure and Policy Making resulting in no changes to the physical environment. (Housing/City Manager)
NOT TO BE HEARD BEFORE 1:30 P.M.
TO BE HEARD CONCURRENTLY WITH ITEM 3.4