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Committee advances a package of revenue measures (TOT, parking, cannabis, others) for further drafting and ballot consideration
Summary
The committee recommended multiple revenue options—transient occupancy tax increases timed for the Olympics, a parking (POT) measure, an expanded cannabis business tax, a study on vacancy taxes and digital kiosk revenue sharing—and voted to instruct staff and the City Attorney to draft ordinances and ballot language.
The committee reviewed a broad set of proposals from the Office of Finance intended to bolster the general fund and protect municipal services, and voted to advance many of them for ordinance drafting and ballot consideration.
Staff presented categories of measures and preliminary revenue estimates: an increase to the transient occupancy tax (TOT) proposed at 4% during the Olympics and 2% thereafter; a parking tax (POT) estimated to raise tens of millions; extension of the cannabis business tax to currently untaxed outlets; a tax on major events; and options to capture revenue from digital advertising kiosks and vacant commercial properties. Staff noted some items require further study and consultant work; for example, a vacancy tax study would require consultants (estimated roughly $100,000) and further policy design.
The committee discussed timing (June vs. November ballots), enforcement and whether revenue proposals should fund targeted infrastructure priorities rather than flow exclusively to the general fund. Members emphasized the need for enforceability—for example, closing a legal loophole that allows short‑term rental platforms to avoid remitting transient taxes—and requested clarifying language requiring platforms to collect TOT at point of sale.
Votes and directions: Committee members voted to approve forwarding the CEO’s recommended package and separate measures to the council for ballot placement, with instructions for the City Attorney to draft ordinances and language that close collection gaps. The committee recorded multiple roll calls; several items passed with recorded counts of 3‑1 or unanimous votes and will be returned as draft ordinances.
Next steps: Staff will draft ordinance language and more detailed impact analyses, work with the City Attorney on ballot schedules and report back with refined cost, revenue and implementation plans.
