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10A <br />INDIAN RIVER COUNTY, FLORIDA <br />BOARD MEMORANDUM <br />Jason E. Brown, County Administrator <br />Richard B. Szpyrka, P.E., Public Works Director <br />SUBJECT°\ Local Option Gas Tax Distribution Percentages <br />DATE: \April 27, 2018 <br />N AND°°CONDIT <br />As required by ChapterN09 of the Indian River County Code, the Board of County <br />Commissioners shall cond ct a Public Hearing everytwo years in Mayto approve a revenue <br />distribution formula for the 6¢' Local Option Gas Tax. This tax revenue is currently shared <br />with the five municipalities basbd upon a formula as follows: <br />"The percentage of total revenue allocated to each eligible entity equals one- <br />third of the entity's percentaXof total equivalent lane miles of road plus one- <br />third of the entity's percentage oftransportation expenditures over the previous <br />five years plus one-third of the entity's total percentage of population residing in <br />the area based upon the most reg nt estimate from the Florida Bureau of <br />Economic and Business Research."\ <br />This formula has been used over the past 31 yeks. <br />Attached is the 2018 updated table for computation of he Local Option Gas Tax Distribution <br />Percentages. The new percentages will be sent to the`Fl\distributi <br />idDpartment of Revenue for <br />implementation by September 1, 2018. <br />RECOMMENDATIONS <br />Staff recommends approval of the 2018/2019 revenuen percentages effective <br />10/1/18., <br />ATTACHMENT <br />Chapter 209 <br />LOGT Chart/Spreadsheet <br />Public Hearing Advertisement <br />April 2018 Sample Letter to Municipalities <br />DISTRIBUTION <br />Michael Smykowski, Director, Office of Management & Budget <br />APPROVED AGENDA ITEM FOR MAY 15, 2018 <br />C:\Users\legistar\AppData\Local\Temp\BCL Technologies\easyPDF 8\@BCL@DCOD7531\@BCL@DCOD7531.J45 <br />