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City of San Leandro <br />Meeting Date: July 20, 2020 <br />Staff Report <br />Agenda Section:File Number:20-334 ACTION ITEMS <br />Agenda Number:10.A. <br />TO:City Council <br />FROM:Jeff Kay <br />City Manager <br />BY:City Council <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <br />TITLE:Staff Report for City Council Consideration and Possible Action to Place a <br />Measure on the November 2020 Ballot Requesting Voter Authorization to <br />Increase the Real Property Transfer Tax by $5 per $1,000 in valuation <br />SUMMARY AND RECOMMENDATIONS <br />It is recommended that the City Council: <br />1) By motion, adopt by majority vote the attached resolution placing a measure on the <br />November 3, 2020 ballot asking San Leandro voters to increase the City’s existing, <br />voter-approved real property transfer tax (“RPTT”) measure from its current rate of $6 per <br />$1,000 of property value to a new rate of $11 per $1,000 of property value, and direct staff <br />to execute the related ballot filing procedures. <br />2) By motion, adopt the attached ordinance codifying the proposed measure at the proposed <br />$11 rate, contingent upon authorization by the voters of the measure described in item 1) <br />above. <br />BACKGROUND <br />Over the past several years, the City Council has discussed numerous strategies to close the <br />City’s General Fund structural budget deficit. These strategies have included efforts to reduce the <br />City’s expenditures, alternative service-delivery options, as well as ways of generating new <br />revenues. As of the date of the writing of this staff report, the City has already executed a number <br />of long-term cost-saving measures, including: <br />·Adoption of labor contracts that require employees to contribute their maximum share <br />towards employee pension costs; <br />·Implementing new pension tiers that provide reduced pension benefits to more <br />Page 1 City of San Leandro Printed on 7/15/2020 <br />372