BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Safe, Clean Water and Natural Flood Protection Special Tax Summary Report and Resolution Providing for Levy of the Special Tax Rates and Authorizing a Procedure for Correcting Special Tax Amounts for Fiscal Year 2020-2021.
End
RECOMMENDATION:
Recommendation
A. Accept the fiscal year 2020-21 Safe, Clean Water and Natural Flood Protection Special Tax Summary Report; and
B. Adopt the Resolution PROVIDING FOR LEVY OF THE SPECIAL TAX PURSUANT TO THE SAFE, CLEAN WATER AND NATURAL FLOOD PROTECTION MEASURE IN THE COMBINED FLOOD CONTROL ZONE OF THE SANTA CLARA VALLEY WATER DISTRICT AND AUTHORIZING A PROCEDURE FOR CORRECTING SPECIAL TAX AMOUNTS FOR FISCAL YEAR 2020-2021.
Body
SUMMARY:
Provisions of Resolution 12-62 (Providing for the continuation and levy of special tax to pay the cost of a Safe, Clean Water and Natural Flood Protection Program in the combined flood control zone of the Santa Clara Valley Water District subject, nevertheless, to specified limits and conditions) require the District's Chief Executive Officer to prepare a written report (Attachment 1) recommending rates for the Safe, Clean Water and Natural Flood Protection Special Tax, which was approved by voters on November 6, 2012. Rate limits as specified in the Safe, Clean Water ballot measure are indexed to the fiscal year 2019-20 rates plus the change in the Bay Area Consumer Price Index (CPI) or 3 percent, whichever is greater.
Staff recommends that the special tax rates for fiscal year 2020-21 be set flat to fiscal year 2019-20, which would reflect a 0 percent increase. Although current financial projections show there will be a funding deficit at program-end primarily due to increased capital costs of the program, the staff recommendation is consistent with Board discussion and direction given at the April 28, 2020 Board meeting in response to the COVID19 Pandemic. The staff recommendation is intended to minimize impacts to the community during ...
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