ACTION REQUESTED:
Title
Communication from the City Manager with a Request to ADOPT an ORDINANCE Amending CHAPTER 27 of the CODE of the City of Peoria Pertaining to MOTOR FUEL TAX.
Body
BACKGROUND: On October 27, 2016 the City Manager presented to Council a balanced 2016 - 2017 Biennial Budget. As part of the budget presented, an increase in the local Motor Fuel Tax in the amount of $0.03 per gallon was included. The attached ordinance raises the local Motor Fuel Tax from $0.02 per gallon to $0.05 per gallon. The additional taxes generated from this increase will be restricted to the maintenance and improvement of City roads.
FINANCIAL IMPACT: The $0.03 increase in local Motor Fuel Tax will provide additional revenue of approximately $1.2 million to address our infrastructure needs.
NEIGHBORHOOD CONCERNS: Citizens overwhelmingly desire improvements and maintenance of the City's roads.
IMPACT IF APPROVED: The increase in local Motor Fuel Tax will go into effect January 1, 2016. Additional revenues will be invested into the maintenance and improvement of City roads.
IMPACT IF DENIED: Local Motor Fuel Tax will not be increased by $0.03. Investment in road improvements and maintenance will be reduced by $1.2 million absent another revenue source or decrease in other expenditures.
ALTERNATIVES: Provide an alternate revenue source or reduction in other expenditures.
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL'S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City Government, Effective City Organization
2. Attractive Neighborhoods with Character: Safe and Livable
3. Grow Peoria: Businesses, Jobs, and Population
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
2. Invest in our infrastructure and transportation.
3. Reinvest in neighborhoods.
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