AGENDA ITEM REPORT
TITLE:
title
A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY MANAGER, OR DESIGNEE, TO EXECUTE THE 2021 AMENDMENT TO THE INTERLOCAL AGREEMENT WITH BROWARD COUNTY RELATING TO DISTRIBUTION OF THE BROWARD COUNTY FIFTH CENT ADDITIONAL LOCAL OPTION GAS TAX ON MOTOR FUEL FOR TRANSIT.
body
BACKGROUND:
The Transit Gas Tax Agreement levied in 2001 provides for cities to receive 26% of the proceeds of the Fifth Cent Additional Local Option Gas Tax. This amendment includes adjustments to each city’s percentage share based on updated population figures.
DISCUSSION:
This resolution is necessary to update the population figures that determine the amount that each city receives from the proceeds of the Broward County Fifth Cent Additional Local Option Gas Tax on Motor Fuel for Transit Ordinance. Coconut Creek’s population is being increased from 58,742 to 58,803 pursuant to population figures published annually by the Bureau of Economic and Business Research Population Division of the University of Florida, which is used as the official population of Florida cities and counties. However, the City’s portion is decreasing from 0.802006% to 0.797605% due to the overall increase in population in Broward County.
Please see the attached letter from Norman Foster, Director of the Broward County Office of Management and Budget, explaining this amendment. The three cent and fifth cent local option gas taxes are the only two tax allocations previously authorized by the County that require City Commission approval.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT:
REVENUES: TBD
EXPENDITURES: N/A
BUDGETED? N/A
NOTES: The agreement will generate approximately $409,160 FY2022 and will be deposited to account 11-V31242 (estimate based on FY21 budget). This amount, which is not segregated by the State, is a combination of the three cent and the fifth cent of additional local option gas tax.