ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT an ORDINANCE Amending Article VII and Creating Article XVIII of Chapter 27 of the CODE of the City of Peoria Providing for the REGULATION AND TAXATION OF ALCOHOLIC LIQUOR SOLD AT RETAIL ESTABLISHMENTS.
Body
BACKGROUND: The proposed 2019 Revised Annual Budget included a 2% package liquor sales tax to reduce the amount of cuts to staff and services. The attached ordinance will create a 2% package liquor sales tax that would be collected by all retailers who sell alcoholic liquor. It is anticipated that the package liquor tax will generate approximately $700,000 in additional sales taxes.
FINANCIAL IMPACT: $700,000 in 2019.
NEIGHBORHOOD CONCERNS: None
IMPACT IF APPROVED: Reduce the amounts of cuts to staff and services that will have to be made to balance the budget.
IMPACT IF DENIED: Increase in the amount of cuts to staff and services that will have to be made to cover the budget deficiency.
ALTERNATIVES: As Council directs.
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
2. Keep taxes and fees competitive.
DEPARTMENT: Finance