Laserfiche WebLink
INDIAN RIVER COUNTY, FLORIDA /(DOI <br />BOARD MEMORANDUM <br />TO: Joseph A. Baird, County Administrator PUBLIC HEARING <br />FROM• Christopher R. Mora, P.E., Public Works Director Ovv <br />AND <br />Richard B. Szpyrka, P.E , Assistant Public Works Director <br />SUBJECT: Public Hearing to Consider Revenue Distribution Formula <br />Local Option Gas Tax Distribution Percentages <br />DATE: May 3, 2016 <br />DESCRIPTION AND CONDITIONS <br />As required by Chapter 209 of the Indian River County Code, the Board of County Commissioners shall <br />conduct a Public Hearing every two years in May to approve a revenue distribution formula for the 6¢ Local <br />Option Gas Tax. This tax revenue is currently shared with the five municipalities based upon a formula as <br />follows: <br />"The percentage of total revenue allocated to each eligible entity equals one-third of the entity's <br />percentage of total equivalent lane miles of road plus one-third of the entity's percentage of <br />transportation expenditures over the previous five years plus one-third of the entity's total <br />percentage of population residing in the area based upon the most recent estimate from the <br />Florida Bureau of Economic and Business Research." <br />This formula has been used over the past twenty-nine years. <br />RECOMMENDATIONS AND FUNDING <br />Unless the Board receives objection from the municipalities, staff recommends approval of the attached <br />2016/2017 revenue distribution percentages. <br />ATTACHMENT <br />Chapter 209 <br />LOGT Chart/Spreadsheet <br />Public Hearing Advertisement <br />April 2016 Sample Letter to Municipalities <br />DISTRIBUTION <br />Jason Brown, Director, <br />Office of Management & Budget <br />APPROVED AGENDA ITEM <br />FO a 17 2 1 <br />BY _% <br />FAPublic Works\Luanne M\LOGT\LOGT 2015-2016\LOGT 2016 BCC Agn-Pubic Hearing on Distribution 05-17-16.doc <br />Indian River CountyApproved <br />Date <br />Administration <br />Budget <br />rVl/7C�� <br />-Legal <br />I "v� <br />i �" ib <br />Public Works <br />Vry-5-N, <br />6 <br />53 <br />