10-15-1984 Council Packet - Laserfiche WebLink

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2. Full Feathering Certify taxes to provide the full legislation, i.e., 2.0 mills, 1.50 certain defined levels of service. Total estimated tax levy reduction 3. Modified Featheri -4 - U x relief specified in the 1984 mills, .nd 1.25 mills depending on - $2,415,000. See Exhibit A. Certify taxes to provide more ';ax relief than achieved by the MTC 1983 feathering plan but less than that achieved by full feathering. The Joint Committee considered each of these options in detail. Financial data supplied by the MTC indicates that the MTC can fund any revenue losses caused by full -feathering out of its surplus fund balances in calendar year 1985. The full -feathering option has the advantage of providing maximum tax relief to affected communities while still being afforeable due to existing fund reserves. In the absence of an existing budget for the RTB showing a need fcr additional transit funds, the Joint Committee recommends mat the 1984 tax levy incorporate the full -feathering option. Referring back to the policy issues mentioned previously, the adoption of full -feathering option effectively answers these issues. The MTC can .b for one year the revenue reductions caused by full feathering. If tho, fu „ - feathering option is chosen, the phrase "level of service"' must be defined in a "frequency of service provided" basis because that is the way it is defined in the 1984 legislation governing full -feathering. If any other option were chosen, the issue would be open. The Board should note in its resolution certifying the tax lev) that the `requency of service provided to each community is measured according to the level of service provided to the community as specified in the MTC service plan effective on a particular date. Service provided includes service by private providers. The Joint Committee recommends that the service plan in effect on September 1. 1984, be used as rh,e benchmark for measuring level of service provided to each community. Finally, addressing the last policy issue raised, the Joint Committee believes that a tax levy incorporating full -feathering is equitable and aaequately balances the financial needs of the Board with the concerns of the affected communities, particularly potential opt -gut communities. The fairness of plan is demonstrated by the fact that its supporting rationale is established by statute RECOMMENDATION It is the recommendation of the Joint Committee that the Regional Transit Board adopt the attached R:solution No. 84-6. RT3P81 CNLGLI