Title
Adoption of Ordinance Enacting an Increase in the City's Transient Occupancy Tax from Ten Percent (10%) to Fourteen Percent (14%), Subject to a Vote of the Electorate at the November 8, 2022 Election; and
Adoption of Resolution Calling an Election in the City of Alameda to be Consolidated with the City's Next General Municipal Election on November 8, 2022, and Submitting to the Electors A Ballot Measure, "City of Alameda Transient Occupancy Regional Parity Measure," Seeking Amendment to the City's Transient Occupancy Tax from Ten Percent (10%) to Fourteen Percent (14%) by Amending the Alameda Municipal Code Chapter 3-61.3 (Tax Imposed), Establishing the Policies and Procedures for Such an Election, Requesting that the County of Alameda Conduct Such an Election and Authorizing City Councilmembers to File Written Arguments For or Against the Measure. (City Manager 10021030)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
On May 10, 2022, staff sought City Council direction in regards to potential revenue measures for the November 8, 2022 election. Following staff's presentation of initial public polling and viable options, City Council directed staff to move forward with a measure to increase Alameda's existing Transient Occupancy Tax (TOT) from ten percent to fourteen percent. At this time, staff is bringing forward the recommended actions to place the TOT measure on the November ballot.
BACKGROUND
The General Fund is the main operating fund for the City of Alameda (City). It accounts for sources and uses of resources that are discretionary to the City Council in the provision of activities, programs, and services deemed necessary and desirable by the community. In accordance with the Government Finance Officers Association's (GFOA) best practices to maintain adequate levels of fund balance to mitigate current and future risks, the City maintains fiscal discipline and is currently able to meet its General Fund Reserve Policy...
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