City and Borough of Juneau
Finance Committee Meeting
II. Roll Call
III. Approval of Minutes
IV. Discussion on Capital Projects To Be Funded With A Renewal Of The 1% Temporary Sales Tax
The Assembly Finance Committee (AFC), on May 11, 2005, voted to recommend to the Assembly a 7-year extension of the 1% temporary sales tax, which provides $49M in available funding, and approved a list of projects to be funded with the proceeds. The AFC agreed the Gastineau Channel Crossing EIS would be funded by an alternate source.
Approved Funding Levels
Approved Amount
(in Millions)
Project
1
Downtown Parking & Transit Facility
$ 3.0
2
Deferred Maintenance & Statter Harbor
-
3
Airport Terminal Expansion & Enhancement
10.9
4
AW Sewer Expansion
7.0
5
Dimond Park community Center
27.3
6
Eaglecrest Mid-Mountain Chairlift
0.8
Total
$ 49.0
Original Funding Requests
Sales Tax Funding Request
(in Millions)
Project
1
Downtown Parking and Transit Facility
$ 10.1
2
Deferred Maintenance & Statter Harbor Improvements
12.0
3
Airport Terminal Expansion and Enhancement
10.9 - 29.4
4
Areawide Sewer Expansion
15.3 – 26.1
5
Dimond Park Community Center
26.0 – 54.0
6
Eaglecrest Mid-Mountain Chairlift
0.8
Sales Tax Levy Estimate
Term (in Years)
Sales Tax Revenue Estimate
Increase from Previous Year
5
$ 34,530,000
-
6
41,740,000
$ 7,210,000
7
49,300,000
7,560,000
8
56,750,000
7,450,000
9
64,500,000
7,750,000
10
72,300,000
7,800,000
V. Adjournment