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Council studies special‑purpose districts, transportation benefit and utility tax options as mid‑term budget gaps loom
Summary
City staff briefed the council on special‑purpose districts and other revenue tools — from transportation benefit districts to tax‑increment financing — to help close a projected 2026 operating gap and fund capital projects.
City staff gave the council a detailed study‑session briefing on special‑purpose districts and other revenue tools to consider as the city plans for the 2025–27 biennium and longer‑term capital needs.
City Manager Martin Yamamoto said the city faces a projected mismatch of about $1.5 million in 2026 and noted that although the city currently has a multi‑million dollar surplus, reserves do not solve long‑term structural shortfalls. The finance director presented nine district types (including metropolitan park districts, park and recreation service areas, public facilities districts, transportation benefit districts, community renewal/tax‑increment financing, community facilities districts, local improvement districts and…
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