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File #: 16-58    Version: 1 Name:
Type: Resolution Status: Withdrawn
File created: 3/28/2016 In control: City Council
On agenda: 6/21/2016 Final action: 6/21/2016
Title: A RESOLUTION DECLARING THE INTENT TO INTRODUCE AN ORDINANCE ON JUNE 21, 2016, AUTHORIZING THE PLACEMENT OF A NOVEMBER 2016 BALLOT ISSUE TO HUDSON VOTERS FOR THE PURPOSE OF FUNDING INFRASTRUCTURE AND CONNECTIVITY THROUGH THE REDUCTION OF THE CURRENT INCOME TAX CREDIT BY TWENTY FIVE PERCENT (25%) AND SEEKING PUBLIC INPUT ON THIS ISSUE. Executive Summary: This Resolution is being introduced at Council's request.
Sponsors: David A. Basil
Indexes: General Government
Attachments: 1. Tax Credit Reduction Presentation 4-26-2016, 2. Frequently Asked Questions - DRAFT - discussed May 10, 2016, 3. Resolution No. 16-58 (Revised 6/21/16 to reflect corrected meeting date)
Related files: 14-12, 16-112, 16-0059

Title

A RESOLUTION DECLARING THE INTENT TO INTRODUCE AN ORDINANCE ON JUNE 21, 2016, AUTHORIZING THE PLACEMENT OF A NOVEMBER 2016 BALLOT ISSUE TO HUDSON VOTERS FOR THE PURPOSE OF FUNDING INFRASTRUCTURE AND CONNECTIVITY THROUGH THE REDUCTION OF THE CURRENT INCOME TAX CREDIT BY TWENTY FIVE PERCENT (25%) AND SEEKING PUBLIC INPUT ON THIS ISSUE.

Executive Summary:  This Resolution is being introduced at Council’s request.

Body

Legislative History

Resolution No. 14-12, adopting in concept the Connectivity Plan, passed on February 19, 2014.

Purpose & Explanation

In considering implementation and construction of the Connectivity Plan, Council is exploring financing options, one of which may be a reduction to the City’s income tax credit.  Council has laid out the following schedule for review and to solicit public input regarding this matter:

April 5:  meeting - introduction of a Resolution of intent to place a ballot issue before voters to reduce the income tax credit

April 26:  workshop - public input session / forum on this issue

May 10:  workshop - review public input from April 26th

May 24:  workshop - follow-up

June 14:  workshop - second public input session / forum on this issue

June 21:  meeting - 1st reading of an Ordinance to place tax credit reduction question on the November 2016 ballot

July 19:  meeting - 2nd reading

August 2:  meeting - 3rd reading

August 10:  filing deadline of 90 days prior to the election (certified Ordinance due to the Board of Elections)

Nov. 8:  2016 General Election

 

Note:  This Resolution was revised for the June 21st meeting to reflect the correct meeting date in the title and in Section 1. 

Timing Considerations

As directed by Council.

Fiscal Impact

                       Currently Budgeted

                       Supplemental Appropriation Required

  X                       Appropriation Not Required.

 

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