AGENDA ITEM REPORT
TITLE:
title
A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY MANAGER TO EXECUTE THE 2017 AMENDMENT TO THE INTERLOCAL AGREEMENT WITH BROWARD COUNTY RELATING TO DISTRIBUTION OF THE BROWARD COUNTY THREE CENTS ADDITIONAL LOCAL OPTION GAS TAX ON MOTOR FUEL.
body
BACKGROUND:
The Additional Local Option Gas Tax Agreement levied in 1994 provides for cities to receive 51.27% of three cents of the gas tax. This Amendment adjusts only each City’s percentage share of the 51.27% based on updated population figures.
DISCUSSION:
This Resolution is necessary to update the population figure that determines the amount that each city receives from the proceeds of the Additional Three Cents Local Option Gas Tax on Motor Fuel 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 of Florida cities and counties. However, the City’s portion is decreasing from 1.600530% to 1.591700% 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 $420,000 is projected. This amount, which is not segregated by the State, is a combination of the three cents and the fifth cent of additional local option gas tax.