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Votes at a glance: Budget & Finance Committee advances leases, taxes, grants and refunding COPs
Summary
The committee advanced multiple consent and fiscal items including a $600,500 TSA grant for SFO K-9s, extensions of Treasure Island leases, property tax levy ordinances, and a refunding COP authorization (up to $110 million) for redevelopment bonds; most items moved to the full Board with committee recommendation.
The Budget and Finance Committee bundled and advanced a series of routine and fiscal items to the full Board on Sept. 13. Highlights include:
- Item 1: Agreement with Nonstop Music Library, LLC for a music catalog license (amendment approved to make the agreement retroactive to Sept. 1, 2010); nominal fiscal impact ($750/year) and advanced to the Board.
- Item 3: San Francisco International Airport requested and received committee approval to accept and expend a $600,500 TSA grant to partially reimburse costs of operating SFO—9s K-9 explosive detection team (personnel, vehicles, veterinary services); no general fund impact.
- Items 10–15: Treasure Island Development Authority master lease and cooperative agreement amendments (extensions of multiple master leases and the cooperative agreement with the U.S. Navy for one year to 09/30/2012) were presented by TIDA staff and advanced with committee recommendation following a budget analyst report that the changes only extend terms.
- Items 16–19: Annual property tax levy ordinances were presented by the Controller and budget analyst; they proposed a combined tax rate of 1.1718% for FY 2011–12 and noted the impact on a $500,000 owner-occupied home would be about $82.57. The committee advanced the measures with recommendation.
- Item 20: The committee approved forwarding a resolution authorizing refunding Certificates of Participation (not to exceed $110,000,000) to refund 2002 and 2004 redevelopment bonds; staff estimated net present value savings around $5.1 million and the issue was advanced with recommendation.
For the items above the committee either approved them on the consent-style record or sent them to the full Board with a positive recommendation; motions were generally made and carried without recorded objection.
