HomeMy WebLinkAbout2021-10-19 Finance Committee Action MinutesFINANCE COMMITTEE
ACTION MINUTES
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Special Meeting October 19, 2021
The Finance Committee of the City of Palo Alto met on this date in virtual
teleconference at 6:01 P.M.
Present: Burt, Cormack, Filseth
Absent:
Agenda Items
1. Discuss Updates and Recommend Further Refinement of Potential
Revenue Generating Local Ballot Measures, and Review Draft Initial
Polling Outline.
THE FINANCE COMMITTEE TOOK A BREAK AT 7:41 P.M. AND
RETURNED AT 7:46 P.M.
MOTION: Chair Cormack moved, seconded by Council Member Filseth to
recommend the City Council:
A. Direct Staff to model a business license tax at monthly rates of $.05 -
$.20 per sq ft, with thresholds for square footage size and possible
exemptions for retail;
i. Discuss any additional industry exemptions for further staff analysis;
B. Direct Staff to model 2 methods to replace the GFET funds at risk in
the Green case:
i. Seek voter approval in modifying the 2009 GFET formula to
transfer a percentage of gas utility gross revenues;
ii. Distribute the change across gas and electric as an increase in
the percentage UUT; and
C. Direct Staff to incorporate the Finance Committee’s feedback
regarding the polling topics and to execute the initial round of polling.
ACTION MINUTES
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Sp. Finance Committee Meeting
Action Minutes: 10/19/2021
MOTION PASSED: 3-0
Adjournment: The meeting was adjourned at 8:38 P.M. in celebration and
memory of the father of Chair Cormack, in which tonight would be his 80th
birthday.