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File #: 23-640    Version: 1 Name: Measure CC, C, & Real Property Transfer Tax Status Reports
Type: Minute Order Status: Action Item
File created: 2/7/2023 In control: FINANCE ADVISORY COMMITTEE
On agenda: 3/8/2023 Final action:
Title: (1) Approval of Measure CC and C Sales Tax Status Reports (FY2022-2023, Q1) for Transmittal to City Council; and (2) Approval of Real Property Transfer Tax Status Report (FY2022-2023, Q2) for Transmittal to City Council.
Attachments: 1. 2023.03.08 ATT1 - Measure CC Status Report - XXXV, 2. 2023.03.08 ATT2 - Measure C Status Report - IX, 3. 2023.03.08 ATT3 - Real Property Transfer Tax Status Report - VI
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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(1) Approval of Measure CC and C Sales Tax Status Reports (FY2022-2023, Q1) for Transmittal to City Council; and (2) Approval of Real Property Transfer Tax Status Report (FY2022-2023, Q2) for Transmittal to City Council.

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Meeting Date: March 8, 2023

Contact Person/Dept: Melissa Zak/Finance Department

Phone Number: (310) 253-5865

Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]

Public Hearing: [] Action Item: [] Attachments: [X]

Public Notification: (Email) Meetings and Agendas - Finance Advisory Committee (03/02/2023)

Departmental Approval: Lisa Soghor, Chief Financial Officer (03/02/2023)
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RECOMMENDATION

Staff recommends the Finance Advisory Committee (FAC) approve the Measure CC and Measure C Sales Tax Status Reports (FY2022-2023, First Quarter) and Real Property Transfer Tax Status Report (FY2022-2023, Second Quarter) for transmittal to City Council.

BACKGROUND/DISCUSSION

In November 2012, Culver City residents voted in support of Measure Y, a half cent transaction and use tax to maintain critical City services for the next 10 years. In March 2020, Culver City residents voted in support of ballot Measure CC, the continuation of the half cent tax through 2033. Measure Y is now referred to as Measure CC. The FAC Work Plan is to "Continue to provide quarterly reports to the City Council on Measure CC proceeds."

In November 2018, voters passed a quarter cent local transaction and use tax under Measure C to maintain the current level of public safety services, community programs, infrastructure maintenance, and other City services funded through the City's General Fund . Measure C collections began in April 2019 and will remain in effect until ended by voters. The ballot measure included the stipulation that, if passed, the FAC would provide quarterly reports of fund proceeds and expenditures to the City Council. The ...

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