City and Borough of Juneau

Finance Committee Meeting

June 16, 2005, at 11:30 AM
Chambers

 

I.     Call to Order

 

II.    Roll Call

 

III.  Approval of Minutes

June 8, 2005

 

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