TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Executive
Malisa Files
425-556-2166
Finance
Kelley Cochran
425-556-2748
DEPARTMENT STAFF:
Finance
Ryan Edwardsen
Sr. Financial Analyst
TITLE:
title
Budget Follow-Up: Revenue Options
OVERVIEW STATEMENT:
recommendation
During the 2021-2022 Budget Deliberations, Council requested a Study Session to discuss potential changes to the City's business license as well as recommendations for additional funding for transportation. At the Study Session on January 12, 2021, Staff will review the business license fees, historical collections and the potential revenue collections from charging an additional $50 per FTE fee for businesses with 150 FTEs or more. Additionally, information will be provided on other revenue options available to Council. Staff will be seeking Council's guidance on next steps in the process.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
The Council, during their budget deliberations, requested a Study Session be held on the business license fees and potentially raising new revenue for other needs. The presentation at the Study Session will cover the items recorded on the Council's Parking Lot Matrix and seek direction from Council on next steps.
* Required:
The Study Session item is in response to a Council request during the 2021-2022 Budget Deliberations. Specifically, business licenses are regulated under RCW 35A.82.020 and RMC 5.04.
* Council Request:
Council requested a Study Session during budget deliberations on December 10, 2020.
* Other Key Facts:
N/A
OUTCOMES:
The purpose of the discussion of revenue options is to formalize Council's goals around the City's taxing structure and discuss a path forward, if Council chooses to make changes.
In 1996, The Redmond City Council, imposed a hea...
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