AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY MANAGER TO EXECUTE THE 2017 AMENDMENT TO THE INTERLOCAL AGREEMENT WITH BROWARD COUNTY RELATING TO THE DISTRIBUTION OF THE BROWARD COUNTY SIX CENTS LOCAL OPTION GAS TAX ON MOTOR FUEL.
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BACKGROUND:
The original local option gas tax agreement created in 1988 provides for cities to receive 37.5% of the proceeds of six cents of the gas tax. This Amendment adjusts each city’s percentage share of the 37.5% based on updated population figures.
DISCUSSION:
This Resolution is necessary in order to update the population figure that determines the amount each city receives from the proceeds of the six cents Local Option Gas Tax Ordinance adopted by Broward County. Coconut Creek’s population is being increased from 56,593 to 57,116 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 for Florida cities and counties. However, the City’s portion is decreasing from 1.170662% to 1.164205% due to the overall increase in population in Broward County.
Please see the attached letter from Marci Gelman, Acting Director of the Office of Management and Budget, explaining this Amendment.
RECOMMENDATION:
Staff recommends approval of the Resolution.
FISCAL IMPACT:
REVENUES: TBD
EXPENDITURES: N/A
BUDGETED? N/A
NOTES: FY17 revenue of approximately $598,000 is projected.