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that budget. Using this updated base lowers the property tax estimate for 2008-09 from <br />$17.5 million to $] 7.0 million, a shortfall of $500,000. <br />911 Fee--Real Property Transfer Tax-as the Committee is aware, the City's 91 l fee <br />was discontinued by Council on September 2, 2008. A 911 tax, Measure SS, will be <br />voted on by San Leandro voters this upcoming November 4, 2008. If the measure is <br />approved, then the revenue loss to the City's General Fund for 2008-09 will be <br />approximately $800,000. This is the assumption that is reflected in Schedule A, attached. <br />If the measure is not approved then the revenue loss to San Leandro will be <br />approximately $2.0 million and $2.5 million per year thereafter. <br />Together the reductions noted above indicate a revenue shortfall for San Leandro for <br />2008-09 of approximately $2.1 million. <br />Staff will continue to monitor all revenue sources in the upcoming months, particularly <br />for the General Fund, and assess any impact both to the current year and the upcoming <br />budget year, 2009-10. <br />Please let me know if you have any questions. <br />