| COMMISSION MEETING DATE: 4/5/2016 |
| REQUESTED ACTION BY COMMISSION: PROPOSED RESOLUTION NO. R16-054 - Authorize the Mayor to sign an Interlocal Agreement among Palm Beach County, The School Board of Palm Beach County, Florida and the signatory municipalities pertaining to the shared distribution and use of the one cent local government infrastructure surtax. |
| EXPLANATION OF REQUEST: On March 22, 2016 the Board of County Commissioners (BCC) approved plan for a one-cent infrastructure surtax. The life of the surtax will not exceed ten years. This initiative includes the County, School Board and the Municipalities. The distribution will be 48% for the School Board, 27.5% for the County, 4.5% for Economic Development Cultural Facilities and 1.5% for Economic Development Incentives. The remaining 18.5% will be distributed to the Municipalities.
In order to include the School Board in the initiative and change the distribution of the surtax revenues, Florida Statutes require an Interlocal Agreement between the Municipalities and the County approving the distribution plan. Statutes require that a "majority" of the municipal population (at least 51%) must agree in order for the County to move forward. |
| HOW WILL THIS AFFECT CITY PROGRAMS OR SERVICES? This is the first comprehensive, countywide infrastructure surtax plan in the County's history. This initiative will provide much needed funding for the county and the cities in Palm Beach County. |
| FISCAL IMPACT: If approved by the voters, the initiative will generate approximately $3.9M in annual revenue to the city (for ten years) as a revenue source for our capital improvement program. |
| ALTERNATIVES: Not adopt the ILA. |
| STRATEGIC PLAN: |
| STRATEGIC PLAN APPLICATION: |