In a recent government meeting, city staff presented a revised business license tax (BLT) model aimed at generating additional revenue for Foster City. The proposed \"model 4 x 2\" introduces a tiered rate structure, starting at 75 cents for businesses with gross receipts of $4.4 million or less, and gradually increasing to a maximum rate of $3 for businesses grossing over $25 million. This model is projected to yield approximately $1.4 million in additional revenue.

Despite the potential benefits, feedback from the business community has been mixed. A survey sent to 1,800 local businesses garnered only 50 responses, with many expressing opposition to an increase in the BLT. However, some support was noted for a smaller rate increase compared to the more substantial hikes previously discussed.

Concerns were raised during the meeting regarding the impact of increased taxes on local businesses, particularly in light of rising office vacancies. A representative from SciComp, a technology company, urged the council to adhere to previous discussions that favored more modest tax increases, emphasizing the need for stability and predictability for businesses operating in the area.

The council is now considering whether to place the proposed measure on the ballot for the upcoming November election, which would require a two-thirds vote for approval. With one council member recusing themselves, a unanimous vote from the remaining four members is necessary for the measure to advance. Public comments received prior to the meeting included input from various organizations, indicating a broader interest in the implications of the proposed tax changes.

As the council deliberates, the outcome of this proposal could significantly affect the local business landscape and the city's revenue generation strategy.