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DISCUSSION <br />Ordinance 2010 -022, that created the Transaction and Use Tax at the rate of 0.25% in San <br />Leandro, calls for the formation of a Citizens Oversight Committee. Section 2 -19 -165 in <br />summary states: <br />There shall be a five - member committee of members of the public to review and report on the <br />revenue and expenditure of funds from the tax adopted by this chapter. Prior to the operative <br />date, the City Council shall adopt a resolution establishing the composition of the committee and <br />defining the scope of its responsibilities. The section called for the City Council to complete <br />appoint of the members of the committee by the end of 2011. <br />Retail businesses and residential and business consumers represent community segments most <br />directly impacted by Measure Z. The following is a suggested composition for the Citizens <br />Oversight Committee: <br />• Chairperson of the San Leandro Chamber of Commerce. <br />• Retail representative from the Downtown Business Association <br />• Officer from a homeowner or neighborhood association. <br />• City Board or Commission member. <br />• Representative from San Leandro financial institution or accounting firm. <br />Finally, the resolution approved by the City Council shall define the scope of the responsibilities <br />for the committee. Duties may include developing a report on the following: <br />• Amounts of Transaction and Use Tax revenue generated by Measure Z <br />• Use of the tax revenue and the impact on the City's operating budget including a <br />statement on the impact of the revenue in reducing the amount of cuts resulting from <br />addressing the budget shortfall <br />• Statement of expenditures funded by Measure Z revenues. <br />• Impacts of Measure Z on local business competitiveness and the collection of Sales Tax <br />revenues. <br />CONCLUSION <br />Staff recommends that the Finance Committee direct staff to prepare a resolution for City <br />Council approval establishing the composition of the Citizen Oversight Committee related to <br />Measure Z and defining the scope of responsibility of the committee. <br />