Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Alternative Revenue Pilot topic
No spam. Unsubscribe anytime.
Board affirms support for voluntary payments-in-lieu-of-taxes pilot and suggests an "urban wealth" fund for proceeds
Summary
The Board of Estimate and Taxation unanimously approved a resolution supporting study of a voluntary PILOT pilot for tax-exempt organizations and recommended that any voluntary revenue be placed in a dedicated infrastructure or "urban wealth" fund rather than used for ongoing operating expenses.
Commissioner Bernstein introduced a resolution affirming the board's support for studying or pursuing a voluntary payment-in-lieu-of-taxes pilot that would allow tax-exempt organizations to make voluntary payments into the city budget. "I drafted this resolution," Bernstein said, describing it as a response to an earlier joint presentation and study of alternative revenue sources.
Bernstein and other members emphasized that voluntary payments would be uncertain and therefore poorly suited to replace recurring operating revenue. "Because it's voluntary revenue, it would be coming, it would be not guaranteed in the same way that property tax revenues or sales taxes have the backing of our legal authority," Bernstein said, arguing that the city should instead consider placing such funds into a dedicated infrastructure improvement or "urban wealth" fund for one-time or income-producing public-asset investments.
Commissioner Olsen asked whether the BET would have authority to dictate how any funds from a pilot would be used; members acknowledged the board could only recommend uses and that final authority resides with the City Council and other legal controls. Council President Payne said he personally liked the idea but stressed uncertainty about how much revenue a voluntary program would generate and that further policymaker conversations would be needed.
Following discussion and a friendly amendment to note that the City Council had already taken steps to study the pilot, the clerk recorded four ayes and the board approved the resolution supporting the study of a voluntary PILOT pilot. The resolution affirms support and recommends that council consideration include options for using revenue for infrastructure, parks, housing or income-producing public assets, but it does not create binding authority or appropriate funds.
