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CONSIDERATION TO INCREASE LOCAL OPTION GAS TAX TO 6t <br />The Board reviewed the following memo dated 3/17/86: <br />TO: The Honorable Members of DATE. March 17, 1986 FILE: <br />the Board of County Commissioners <br />THROUGH: <br />Michael Wright, <br />County Administrator SUBJECT: <br />Consideration to Increase <br />Local Option Gas Tax to 6� _ <br />FROM: <br />James W. Davis, P. E. , REFERENCES: J.W. Davis to <br />Public Works Director Transportation Planning <br />DESCRIPTION AND CONDITIONS <br />During the. March 11, 1986 Transportation Planning Committee meeting, the <br />Committee unanimously recammnded to the Board of County Canmissioners that <br />the Local Option Gas Tax in Indian River County be raised to 6G beginning <br />Sept. 1, 1986. This action was taken to provide additional revenue using <br />the "user fee" philosophy to fund a portion of the present $61 million <br />shortfall for the 20 year Capital Improvement Program. <br />ALTERNATIVES AND ANALYSIS <br />Staff has prepared estimated revenue projections for the County's current <br />revenue sources (see attached backup information). Some alternatives to <br />fund the $61 million shortfall are as follows: <br />1) User Fee - Increase Local Option Gas Tax (LOGT) to 0 to provide <br />an estimated $24 million of the $61 million shortfall. A portion <br />of the remaining $37 million shortfall may be acquired through <br />greater Florida DOT participation on a cost sharing basis. <br />Recent state legislation qualifies those County's that have <br />adopted a full 0 LOGT to share in DOT project funds. <br />2) Raise additional revenue from ad valorum taxes or other types of <br />property assessments. <br />RECON,4EMATIONS <br />Staff concurs with the Transportation Planning Comnittee's action and <br />requests permission to conduct a public hearing on this issue in April, <br />1986. <br />Administrator Wright asked if we could schedule the public <br />hearing for the earliest possible Wednesday because we are <br />heading into our budget work in early May. <br />MOTION WAS MADE by Commissioner Wodtke, SECONDED by <br />Commissioner Bowman, that the Board authorize staff to <br />advertise a public hearing at the earliest possible <br />date to consider increasing the local option gas tax to <br />64. <br />31 <br />BOOK 3 FAGF1O�0 <br />MAR 2 6 1986 <br />r <br />