HomeMy WebLinkAbout03-238DATE SUBMITTED: December 9, 2003 BILL
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Committee Meeting Date: December 10, 2003
Sales Tax Revenue Sharing Agreement w/ COUNCIL MEETING Date: December 23, 2003
Kitsap County Department: Finance Department
Presenter: Michael R. Wilson
Phone: 473-5590
SUMMARY:
This agreement provides for an finanicial arrangement with Kitsap County for sharing sales tax
revenues as a result of the relocation of Lowes Home Improvement Warehouse from within the City
of Bremerton to an area just outside the City limits. The sales tax revenue sharing payments shall be
for a period of three years on a phase-down basis (75%-first year, 50%-second year, and 25%-third
year).
ATTACHMENTS:
A. Interlocal Agreement between Kitsap County and the City of Bremerton for sharing sales tax
revenues.
FISCAL IMPACTS (Include Budgeted Amount): The revenue generated from this agreement is as
follows: 2003 - $152,250; 2004 - $101,500; and 2005 - $50,750
APPROVALS: ~
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
FISCAL/BUDGET: IOq-/{O/O_~
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OPERATIONS:
COUNCIL PRESIDENT: ~;~3~ ~
RECOMMENDED MOTION:
I move to approve the proposed Interlocal Agreement with Kitsap County for sharing in sties tax
revenues generated from Lowes Home Improvement Warehouse.
COUNCIL ACTION: ~Approve [] Deny [] Table [] Continue [] No Action