HomeMy WebLinkAbout08-067
DATE SUBMITTED: February 15, 200~
BLLL# 08.- Dfo7
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
N~. Sol/If
SUBJECT: Ordinance Modifying B&O Tax
for Activity on Industrially Designated Port
District Property
Presenter:
March 12,2008
March 19, 2008
Legal and Financial
Services
Roger Lubovich and
Laura Lyon
473-2335 & 473-5722
Committee Meeting Date:
COUNCIL MEETING Date:
Department:
Phone:
SUMMARY: The purpose of port districts as authorized and defined in Chapter 53.04 RCW is to
attract, encourage, and develop industry and promote trade. The City has a cooperative relationship
with the Port ofBremerton and approves of, and is mutually benefited by, the port district's
development of industrial and large commercial activity. In order to foster industrial growth as part of
the economic development of the City and provide opportunities for new industrial development and
therefore new job opportunities and improved overall economic vitality for the benefit of citizens of
the City - a tax exemption from business and occupation taxes for business activity on Port of
Bremerton owned industrially designated property is proposed.
ATTACHMENTS: Ordinance and Explanatory Memo
FISCAL IMPACTS (Include Budgeted Amount): No expenditure or loss of current revenue occurs
from passage of this ordinance. However, there is an opportunity cost of foregoing possible future
tax revenues that may (or may not) have been due the City under the B&O tax code as currently
enacted.
APPROVALS:
DEPARTMENT DIRECTO
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
COMMITTEE CHAIR
COUNCIL PRESIDENT:
~1#~'
CONSENT AGENDA 0
GENERAL BUSINESS ~
PUBLIC HEARING 0
RECOMMENDED MOTION: Move to approve Ordinance No. ~~_ amending certain
sections of Chapter 3.48 of the Bremerton Municipal Code relating to Business and Occupation
Taxes for business activity on industrially designated port district owned property.
COUNCIL ACTION: ~pprove 0 Deny 0 Table
o Continue 0 No Action