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Council Mulls to Renew Rent Control Laws

House for Rent

At tomorrow’s council work session, the Mayor and the Council will discuss whether to renew the  rent control ordinances within the city.

Unless the Council renews the rent stabilization ordinance again, will sunset on September 1, 2012.

For the past seven years, the City has had a rent stabilization ordinance that applies to single-family home rental properties throughout the City. It limits the total rent that may be charged to live in a single-family home to the greater of 0.6% of the assessed value of the home or the fair market value rent of a four-bedroom house in the D.C. metropolitan area as established by the Department of Housing and Urban Development.

The ordinance includes provisions that allow landlords to increase rent above the ceiling when they make significant improvements on their homes or to avoid a hardship, as is determined by the City’s Rent Stabilization Board.

The purpose of the ordinance when it passed was to limit the purchase of single-family homes in the residential neighborhoods around the City for the purpose of conversion into rentals or as investment properties, and to stabilize the number of owner-occupied properties in the City.

The Council retained Dr. Anirban Basu of the Sage Policy Group to review the proposed policy in 2005. Dr. Basu has recently published a report and found that there are still valid rational basis to renew rent control ordinance in the City.

You can see the entire report here Sage Report, March 2012.

  • Dr. Basu found that there was a reasonable basis for initiating the policy, based on the purpose of limiting the conversion of owner-occupied homes into rental properties and preventing the code violations that would occur as a result, and based on the general fact that owner-occupants have a greater civic engagement in the community than do renters.
  • Dr. Basu also found that a similar purpose was served by the City working with developers to construct new student housing along the US 1 corridor outside of the residential neighborhoods, to give students other options for places to live outside of single-family home rentals. Dr. Basu conducted a similar study before the ordinance was renewed in 2009, with a similar result.   Dr. Basu recently conducted another study based on updated economic information, and considered a number of changed factors – specifically, the fact that a number of developers have completed student housing projects in the US 1 corridor, and the intervening housing crisis that has led to numerous foreclosures and vacancies.
  • Dr. Basu has found that, based on the interest in encouraging homeownership and limiting conversions to rental properties, and to encourage demand for the multifamily student rentals, a rational basis for rent stabilization still exists. However, Dr. Basu states in his report that there may be a time over the next several years that the arguments for rent stabilization become weaker, due to the increasing number of students who are living in multifamily rental properties nearby and the resulting decreased demand for rental properties in the single-family neighborhoods. Despite the existence of the City’s rent stabilization ordinance over the past several years (which, during much of that time, was not being enforced due to pending litigation), the rate of owner-occupancy in the City’s residential neighborhoods has unfortunately decreased.
  • Although Dr. Basu has found that a rational basis for rent stabilization still exists, this is different from the question of whether the rent stabilization ordinance is the best policy for the City, which is up to the Council to determine.

There are many valid arguments both before and against the policy – it may help discourage people from purchasing properties as investments and renting them to students, and it does keep rents down to offer an affordable alternative to the high rises along US 1.

On the other hand, with the high number of vacancies, there is a legitimate question as to whether the City should be discouraging landlords from purchasing homes to rent to students.

Also, the expense to the City of enforcing rent stabilization may not be justified, especially given the fact that rental rates have been kept low due to the current market and for the most part may not have been impacted by rent stabilization.

Also, rent control in residential houses and not in the high rise apartments will keep attracting more students to live in the neighborhood and discourage them to move to students apartments.

On a related note, I personally think some provisions of the  PGPOA’s recent petition is harmful to the long term interest of the City. I will write a separate post on that subject.

Please let me know with your ideas and thoughts about rent stabilization and other ideas about how to encourage homeownership in our community.

NCP Crime Stats: April 4-8, 2012

Date of
Incident
Time of
Incident
Incident
Type

Location
04/07/20121107THEFT FROM AUTO4700 Block CHERRY HILL RD
04/08/20121055THEFT FROM AUTO9500 Block 48TH PL
04/08/20121142THEFT FROM AUTO9500 Block 48TH PL
04/08/20121214THEFT FROM AUTO9500 Block 48TH PL
04/09/20121212THEFT FROM AUTO9000 Block RHODE ISLAND AVE
04/10/20121742THEFT9200 Block DEWBERRY LN
04/10/20121918AUTO, RECOVERED3400 BLK DUKE ST
04/12/20121422B & E, RESIDENTIAL9500 Block 50TH PL
[mappress mapid=”65″]

Budget 2013 – Folks Who Make Our City Run

City employees across departments

One of our City’s major expenses goes to support the workforce that makes our City run. Some 60% of our budget’s general fund ($1.4 million) goes to pay some 113 City employees.  Please see above for a breakdown of City employees across departments.

Here is a brief descriptions of what each department does.

Public Works
Public works is the main engine of the City. It plans, manages and administers service programs designed to promote safe and clean public areas. Services continue to evolve to reflect innovations in industrial and environmental operating procedures. Program directives include providing technical and other educational staff training, to the extent funded in the adopted budget, to develop a skilled labor force.

Youth and Family Services (YFS)
YFS provides management and oversight of department activities, promotes community outreach and enhanced family functioning and advises Mayor & Council on family-related issues. Program responsibilities include: outreach to community leaders to assess community needs and develop strategies to address those needs; conduct assessment and planning meetings with school principals on family issues; conduct training as requested; administer Halloween Thing and Spring Egg Hunt programs, Municipal Government Month activities; staff support for the City’s Education Advisory Committee (EAC), disseminate client surveys to families who have concluded counseling; co-administer the Lakeland STARS tutoring/mentoring program; community outreach and participate in family-related issues at county and state level.

Planning
This Planning provides for overall supervision and management of Planning Department activities. This includes secretarial services, travel and training for staff, dues for membership in professional organizations,

Public Services
The Public Services program directs the operation of Parking Enforcement, Code Enforcement, Animal Control, Recreation, Rent Stabilization, Public Safety, Speed Enforcement and Contract Police in the City in accordance with applicable codes, and City Council policies. In addition, the program coordinates special events such as the July 4th celebration. The Director reviews relevant codes and makes recommendation for changes; and responds to citizen concerns regarding these programs. The Director serves as liaison to public safety agencies.

Finance:
The finance program provides financial and other services not otherwise included in other Finance programs such as payroll services, accounting and reporting, collections, budget or information technology; also provides overall management of the programs listed. This program responds to ad hoc requests of the City Manager for special projects as required during the fiscal year, ensures regulatory compliance, supervision of procurement and maintains adequate audit and internal controls.

Administration
This Administration plans, manages and administers the human resources programs and activities for the City. Programs and activities include recruitment, policies and procedures, position classification, benefits evaluation and administration, employee relations, labor relations and all other personnel activities; also provides counseling and information for all employees in personnel and benefit matters, including interpretation of personnel law, policies and regulations.

2013 Budget – Where Money Comes From, Where Does It Go?

City’s revenues come from two main sources – General Fund and Capital Improvement Funds (or program)

This year, the City is projecting a general fund revenue of 14,493,984

The FY2013 C.I.P. includes 29 active projects with projected 5-year expenditures of $51,486,833. Some of these projects are placeholders with no current funding. FY2013 interfund transfer from the General Fund totals $1,277,900.

Here are the highlights of the 2012 general revenues.

The real property tax rate of $0.322 per $1 00 of assessed valuation is maintained, with no increase from FY2012. The personal property tax rate $0.805 per $100 of assessed valuation is maintained, with no increase from FY2012.
• The FY2013 requested budget projects a 7.5% increase in income tax revenue, from $1,275,000 to $1,370,000, based on a comparison of year-to-date receipts.
• The FY2013 requested budget projects intergovernmental tax revenue (including admission & amusement tax, highway user tax, and hotel/motel tax) at 8.7% less than the FY2012 adopted budget, due to reductions in the FY13 budget for admission & amusement tax and highway user tax.
• Residential properties currently comprise 64.2 percent of the City’s tax base. The gross residential tax base (prior to application of the homestead tax credit for owner-occupied properties) in FY2012 was $1,458,785,236 and is projected to be $1,448,269,956 for FY2013, a decrease of 0.7%. After applying the homestead tax credit at 104% for FY2013, there is an increase of 1.1 %.
• Commercial and industrial properties comprise the other 35.8 percent of the City’s tax base. The commercial tax base in FY2012 was $701,158,520 and is projected to be $808,625,366 for FY2013, an increase of 15.3%.
• One cent of the tax rate represents $232,877, including real property tax, personal property tax at 2.5 times the real property tax rate, PILOT-UM CASL property and PILOT-UM Washington Post property.
• For FY13, economic development has not had a significant financial impact on tax revenues. In the future, it is hoped that economic development projects would have a much greater impact on revenue.
• The FY2013 requested budget does not include any proposed increases in fees, charges or fines.
• The public parking garage opened in August 2009 and permanent 20-year financing settled on February 25, 2011. The FY13 requested budget includes a $251,950 interfund transfer from the Parking Debt Service Fund to the General Fund in order to cover the excess of debt service on the parking garage bond over parking garage-related revenues. It is hoped that, over time, revenues from the parking garage will increase to close that gap.
• Net speed enforcement camera revenue, budgeted at $2,000,000 less vendor processing charges of $780,000, will be used for public safety purposes, including pedestrian safety improvements.

Here are the highlights of General fund expenditure:

• FY2013 is the third year of a 3-year collective bargaining agreement with AFSCME Local 1209C, covering certain Public Works employees. The FY2013 requested budget includes a 2.0% cost of living adjustment (“COLA”) plus merit increases. Negotiations on a contract addendum are underway but not concluded for FY2013. Traditionally, employees not covered by the collective bargaining agreement have received the same benefits as employees covered under the contract.
• The FY2013 Requested Budget includes a net decrease in full-time equivalents (FTEs) of 0.18 from FY2012, itemized as follows:
1. An additional 0.30 FTE in an Office Specialist I position (in Youth, Family & Senior Services-Seniors Program, program 4012) to provide clerical support
2. A net decrease of 0.38 FTE for contract police officers in the Speed Enforcement program (in Public Services-Speed Enforcement, program 2025), based on payroll projections for officers certifying speed enforcement camera citations
3. A net decrease of 0.10 for a Planning Intern (in Planning-Economic Development, program 3014)
• The Billing & Collections Supervisor position in Finance-Accounting & Financial Reporting, program 1022, was reclassified, an increase of 1 grade to account for additional duties and responsibilities.
• Health insurance rates decreased 4.9% for FY2013 due to a change in carrier. All other insurance costs decreased 4.3%, primarily resulting from a reduction in workers compensation insurance rates.
• The net result of FTE changes, COLA and merit increases, and changes in employee insurance costs increased FY2013 personnel costs by 2.1% over FY2012.
• The parking garage tax-exempt bond was issued on February 25, 2011, replacing bond anticipation notes (BANs) used for interim financing, and debt service on this Sun Trust Bank bond is budgeted in Debt Service, program 9010.

Tonight’s NCPCA Meeting To Discuss FBI Move to Greenbelt Metro Station

NCPCA - It's Your Neighborhood Association

Today is the second Thursday of the month and hence the day of the monthly NCPCA meeting.

The main agenda of the meeting will be about the north core development at Greenbelt Metro station. North College Park residents and former council member John Krouse will be leading the discussion. Flyers were distributed in East Hollywood in the area closest to the station.

I wrote about the move a few weeks ago, but here is a quick summary John sent to us about the project.

The developer who owns the air rights to build on the parking lot and station property of Greenbelt Metro is working on a new plan to build private buildings in a lease agreement with the FBI. This would move the FBI from downtown D.C. to Greenbelt into leased buildings. Although nothing is certain yet, the developer and Park & Planning both seem to envision the possibility of tall buildings near the station, with most of the remainder of the site devoted to the FBI compound.

It is also not clear whether requirements of the Sector Plan and previous design approvals will remain in force. As a result, the proposal could dramatically change the architectural standards of the buildings, alter the mix of uses, and possibly change the alignment of a major highway connector road from the Beltway to Greenbelt Road.

All of this could have significant impact on our community and deserves close review.

Personally I have mixed feelings about the project. On one hand the FBI move may potentially improve safety and security in the area, or at least the perception of it. The move of some 12000 federal employees can also potentially improve the quality of north College Park neighborhood and hence potentially the property values of our area in long run. On the other hand,  a high security building near a residential neighborhood does not mesh very well with the surrounding community. A resident would be more interested to see a mixed use development near his / her neighborhood than a tall fortress like concrete structure.
Regardless who moves or not, we’ll have to stay engaged in this process. NCPCA will most likely take a position on the move, on which the Council may consider further actions. Your presence is thus very important.
As usual, the NCPCA meeting will start at 7:30 pm at Davis Hall. More at http://myncpca.org

See you all tonight.

Council’s Budget Wish list

The budget season is upon us! In the next few days and weeks the council and the community groups will be busy in discussing what and how to spend in the next Fiscal year 2013. The Council will be having two working sessions next two Saturdays. We will also be having a public forum for north College Park residents on April  26, 7:30 pm at Davis Hall.

Here is the list of items that the Mayor and Council has for FY 2013 proposed budget. Let me know what you think.

1. Budget 1% of total revenue budget on education
1% = $140,000, but individual schools would have difficulty keeping money, as large grants must be turned over to PGCPS. Requested budget includes $60,000 for public school education grants (an increase from $25,000 in FY12).

2. Budget for 1 or 2-day retreat
UMUC Inn & Conference Center has a $104 meeting package that includes continental breakfast, lunch, morning and afternoon refreshment breaks, parking and standard a/v needs. For M&C, manager, facilitator, cost would be approx. $1 ,200; adding senior staff would increase cost to $2,080. A facilitator would run approx. $2,000 per day. So, total cost would be $3,150 (M&C) to $4,080 (with senior staff).

3. Budget for cost calculation for a defined benefit plan
In 2005, City spent $5,950 for an actuarial evaluation for entry into Maryland State Retirement System. Actuary (Milliman) determined cost for purchase of prior service credit at $5,160,238 for 100%, $2,778,402 for 50%, and $2,036,528 for 33.33%. Costs would probably be higher now as State retirement returns have been lower since 2005 than before.

4. Budget for doubling of City contribution to CPCUP
Requested budget includes $100,000 for CPCUP contribution (an increase from $50,000 in FY12).

5. Budget for state lobbying services
Bowie budgets $45,000 for a lobbyist to assist City with legislative issues. The City’s FY2008 budget contained $5,000 which was unused.

6. Increase non-competitive public school education grants for Hollywood and Paint Branch from $5,000 to $7,500
Cost= $5,000, but individual schools would have difficulty keeping money, as large grants must be turned over to PGCPS. Requested budget includes $60,000 for public school education grants, details to include input from Education Advisory Committee (an increase from $25,000 in FY12).

7. Provide College Park resident book scholarships for UM students, 2 @ $500

8. Provide $7,500 non-competitive public competitive grants for Greenbelt MS and Parkdale HS

9. Provide $2,500 competitive public school education grants for Buck Lodge MS, High Point HS, Cherokee Lane ES

10. Provide scholarships to UM summer educational camps@ $550 each for College Park elementary, middle, high school students, $2,200 for each of 3 levels

11. Consider spending down reserves to 25%. goal
After Ordinance 12-0-01′ unassigned reserve is at 39.97%, but reserve funds may be needed in the future for Public Works modular replacement (estimate $1 Million) and City Hall expansion ($6-8 Million) in order to avoid excessive borrowings for these projects. Using reserve funds for some/all of these projects would be much less expensive than longterm borrowing. A planned FY12 budget amendment (to be brought forward in April) will transfer $1,000,000 to the Public Works Facility Improvements C.I.P. project to cover the cost for a replacement modular building, which will reduce the unassigned reserve to 32.87%.

12. Budget an additional $500 for Neighborhood Watch committee

13. Budget $1 , 000 for Citizens Corps Council

14. Allocate $2,000 for Sustainable Maryland “Green Team” committee

15. Support public improvements to infrastructure, streetscape and pedestrian lighting in Hollywood commercial district

16. Support a community center in North College Park, particularly serving seniors and teens

17. Rain garden near Hollywood Shopping Center, possibly as a joint project between Carrollton Enterprises, REI and CBE

18. Install netting at Duvall Field to catch fly balls. Expansion of tree replacement program

19. Directional signs pointing drivers to side streets off Rhode Island Avenue service roads

20. Add Pepco lights for Gettysburg Lane

21. Support a “substantial expansion” ofpedestrian streetlights (similar to Lackawanna) in North College Park

City to Formally Acknowledge PGPOA Petitions

Prince George's Property Owners' Association

In tonight’s regular council meeting, the Council is set to pass a resolution to  formally acknowledge two petitions submitted by the Prince George’s Property Owners Association.

Since last year, PGPOA has been collecting petition signatures to amend the City Charter in two ways:

1) To limit the total amount of revenue collected through real property taxes to the amount collected in FY 2011, and

2) to prohibit any distinction in the way the City regulates housing based on a variety of factors, including type or size of housing.

The City needs to pass a resolution to acknowledge receipt of these petitions, which were submitted a couple weeks ago.

There have been a a number of concerns about these petitions and the impact that they would have on the City, by preventing the City from obtaining revenue from new developments that come into the City or from allowing its revenue from keep pace with inflation, and seriously hamstringing the City’s ability to regulate rental housing.

The City attorney will be reviewing the proposed Charter amendments and the petitions to see if they meet the legal requirements to require a referendum under State laws and the City Charter.

We will keep you posted.

Council to Establish Farmer’s Market Committee

Farmer's Market

In last week’s work session, the Council discussed the detailed responsibilities of a farmer’s market committee in College Park. The Council will consider adopting a resolution to form the committee in tomorrow’s regular meeting.

According to the resolution, the committee will be composed of up to seven members with a quorum of three members. The committee members will be appointed by the Mayor and Council for three year terms. The City’s Planning Department will serve as the staff liaison to the Committee.

The committee will submit an annual report to the Mayor and Council that summarizes the operation of the market, to include issues related to customer satisfaction, vendor satisfaction, rules and procedures, fee structure, and other relevant matters.

It will meet at least once each year with the Mayor and Council to discuss the progress of the farmers’ market and possible changes or other actions that could support and strengthen the farmers’ market.

It will collaborate, where appropriate, with other city committees and local organizations such as the Committee for a Better Environment, College Park Arts Exchange, civic associations, and student organizations. It will also develop recommendations for the Mayor and Council for how to structure and manage the downtown College Park farmers’ market in a way that maximizes the vibrancy and success of the market and emphasizes locally-grown vegetables, fruits, and other farm products.

The committee will recruit a diverse array of local farmers and producers of complementary products and services that are appropriate for inclusion in a farmers’ market. Finally, it will design and implement a marketing campaign to attract and retain a strong customer base to support the market.

NCP Crime Stats 03/31/2012 – 04/07/2012

[mappress mapid=”64″]
Date of
Incident
Time of
Incident
Incident
Type

Location
04/01/20121437THEFT9800 Block RHODE ISLAND AVE
04/03/2012636THEFT9000 Block BALTIMORE AVE
04/03/2012823THEFT FROM AUTO9300 Block CHERRY HILL RD
04/03/20121103THEFT FROM AUTO9300 Block CHERRY HILL RD
04/04/20121101THEFT FROM AUTO9000 Block RHODE ISLAND AVE
04/05/2012233ASSAULTNB BALTIMORE AVE/EB GREENBELT RD
04/06/2012138B & E, SCHOOL9800 Block 49TH AVE
04/06/20121811THEFT9800 Block RHODE ISLAND AVE
04/07/20121107THEFT FROM AUTO4700 Block CHERRY HILL RD

City to Celebrate arbor Day at Muskogee Playground

Muskogee Playground

The City will celebrate Arbor Day on Wednesday, April 18th at 6:45pm at the Muskogee playground.

The Muskogee playground is located at 5100 block Muskogee St & Narragansett Parkway, md 20740.

A butterfly habitat planting will be installed, including two native trees.

Girl Scouts from troop 2898 will be participating in the program.

All are welcome.

Spring Cleanup at Public Works

Davis Hall

The City of College Park Public Works facility at Davis Hall (9217 51st Avenue) will be open all four Saturdays (April 7th, 14th, 21st and 28th) in April from 7:30 a.m. until noon.

City residents may drop off bulky trash, electronics for recycling, and yard waste; hazardous materials (including roofing shingles, and propane tanks) will not be accepted.

Air conditioners, heat pumps, refrigerators and freezers may incur a collection fee; tires will incur a disposal fee of $4.00 each.

These weekend events are only open for College Park city residents; you must show proof of residency in the City of College Park to participate.

It’s never too late to start your spring cleaning! Check your cabinets, closets and garages for all those items you no longer need or want.

Want to donate them but don’t have the time to drive around to multiple donation centers?

Bring everything to Public Works instead! From 9 am to 2 pm each Saturday in April, we will once again have the assistance of American Rescue Workers and Community Forklift.

City’s Action Plan – Speak Your Mind

Strategy and planning

The City will hold a Public Forum on the Draft FY 2013 Action Plan. As part of the College Park Strategic Plan 2010-2015.

The public forum will hapen next Tuesday on April 10, at 7:15pm at the City Hall, just before the start of the regular council meeting.

The City must annually adopt an action plan with specific tasks to accomplish the goals and objectives of the Strategic Plan. City Council crafted a Draft FY 2013 Action Plan and would like to receive public comments on the plan.

Copies of the Draft March 2012 FY2013 Action Plan may be obtained here or from the City Clerk’s Office, 4500 Knox Road, College Park, MD 20740, call 240-487-3501 .

The Council discussed the draft plan in last Wednesday’s worksession at great length. The staff has updated the action plan with council comments.

Edgewood Road Paving to Start Next Monday

Construction at Edgewood Rd and Rhode Island Ave

Here is a good news. As part of the intersection improvement, starting from April 9, the County will start paving Edgewood Road at the Rhode Island Avenue intersection. The work will occur from 9pm to 5am every night and will end on April 12,

Also, per County’s project manager, the entire intersection will be ready by sometime end of this month. We’ll keep you posted as things progress.

Please let me know if you have any question. Thank you.

Neighborhood Cleanup, April 14

Comittee for a Better Environment

Get Dirty for Some Good Clean Fun!

City’s Committee for a Better Environment (CBE) is organizing a community cleanup on Saturday, April 14, 2012.

Volunteers will meet at 9:30am in front of 9615-52nd Avenue (at the end of the Narragansett Parkway). From Rhode Island Avenue, going north (pass the shopping center that includes MOM’s and REI on the right), turn right on Edgewood Rd. Take the first right at Narragansett and go to the end where 52nd Avenue intersects. Turn right and park. Do not turn left and park because it is permit parking only, as is Narragansett.

Volunteers will walk down Narragansett Parkway from Edgewood Rd to the start of the stream at Mangum. Pick up trash on the banks and in the stream from there to 52nd Ave.

Those who don’t mind wading in the water can pick up trash in the stream and on the banks, starting from 52nd Avenue to the railroad tracks. This is a little more of a challenge due to dense brush along the stream, deeper water, etc.

Wear long pants, long-sleeved shirts, and shoes that you don’t mind getting wet. Wear or bring knee-high boots in case you need them. If you have a reusable water bottle, please bring it; we’ll supply the water.

Light refreshments, bags for trash, and gloves will be supplied.

City Publishes FY2013 Draft Budget

The FY2013 draft budget

I received this monstrous 400+ page heavy budget book as part of my regular council packet last Friday evening. The City also published the budget on its website today.

Please note that this is not the adopted budget – it’s the draft version as requested by the City manager. The budget will go over several iterations through upcoming  budget worksessions this month.

Council member Wojahn, Afzali, Mitchell and I are also planning to have a budget town hall meeting on April 26 at 7 pm at Davis Hall. Please try to attend.

Some of the highlights of the budget are as follows:

The Budget for FY2013 is $14,493,984 (a 2.76% increase from the FY2012 adjusted budget), including operating revenues of $14,339,323 plus a $251,950 interfund transfer from the Parking Debt Service Fund and a $97,289 budgeted surplus. It is assumed that this budgeted surplus will be allocated to other items during the budget worksessions. The FY2013 Budget includes the following revenue and expenditure highlights and changes:

• The real property tax rate of $0.322 per $1 00 of assessed valuation is maintained, with no increase from FY2012. The personal property tax rate $0.805 per $100 of assessed valuation is maintained, with no increase from FY2012.
• The FY2013 requested budget projects a 7.5% increase in income tax revenue, from $1,275,000 to $1,370,000, based on a comparison of year-to-date receipts.
• The FY2013 requested budget projects intergovernmental tax revenue (including admission & amusement tax, highway user tax, and hotel/motel tax) at 8.7% less than the FY2012 adopted budget, due to reductions in the FY13 budget for admission & amusement tax and highway user tax.
• Residential properties currently comprise 64.2 percent of the City’s tax base. The gross residential tax base (prior to application of the homestead tax credit for owner-occupied properties) in FY2012 was $1,458,785,236 and is projected to be $1,448,269,956 for FY2013, a decrease of 0.7%. After applying the homestead tax credit at 104% for FY2013, there is an increase of 1.1 %.
• Commercial and industrial properties comprise the other 35.8 percent of the City’s tax base. The commercial tax base in FY2012 was $701,158,520 and is projected to be $808,625,366 for FY2013, an increase of 15.3%.
• One cent of the tax rate represents $232,877, including real property tax, personal property tax at 2.5 times the real property tax rate, PILOT-UM CASL property and PILOT-UM Washington Post property.
• For FY13, economic development has not had a significant financial impact on tax revenues. In the future, it is hoped that economic development projects would have a much greater impact on revenue.
• The FY2013 requested budget does not include any proposed increases in fees, charges or fines.
• The public parking garage opened in August 2009 and permanent 20-year financing settled on February 25, 2011. The FY13 requested budget includes a $251,950 interfund transfer from the Parking Debt Service Fund to the General Fund in order to cover the excess of debt service on the parking garage bond over parking garage-related revenues. It is hoped that, over time, revenues from
the parking garage will increase to close that gap.
• Net speed enforcement camera revenue, budgeted at $2,000,000 less vendor processing charges of $780,000, will be used for public safety purposes, including pedestrian safety improvements.