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WHEREAS, if authorized by voters, Proposition 15 would not directly affect property <br />taxes for homeowners or renters because it exempts residential property; and <br />WHEREAS, the measure would provide billions of dollars in new locally -controlled <br />property tax funding yearly for cities, counties, and special districts, including potentially over <br />$8 million in recurring annual revenue for the City of San Leandro once the measure is fully <br />implemented; and <br />WHEREAS, the measure provides new tax incentives to spur new investment in small <br />businesses by eliminating the business personal property tax on equipment for California's small <br />businesses; and <br />WHEREAS, the measure provides billions for cities, counties, and special districts in <br />locally controlled revenues that could be used for affordable housing, essential services and <br />emergency response, health and human services, libraries, public infrastructure, and more; and <br />WHEREAS, the measure also exempts all small business owners whose property is <br />worth less than $3 million; <br />WHEREAS, the measure levels the playing field for businesses and commercial property <br />owners; and <br />WHEREAS, now more than ever, in light of the national and state economic crisis <br />precipitated by the COVID-19 global pandemic, California's local communities need additional <br />revenues for their continued provision of services. <br />NOW THEREFORE, the City of San Leandro City Council hereby RESOLVES that <br />the City Council endorses the successful passage of Proposition 15: the California Schools and <br />Local Communities Funding Act of 2020, a measure on the California ballot in November 2020, <br />and encourages voters in San Leandro and across the State to support the measure and vote for <br />its passage. <br />Introduced by Councilmember Lopez and passed and adopted this 28th day of September <br />2020, by the following vote: <br />Members of the Council: <br />AYES: Councilmembers Aguilar, Ballew, Cox, Hernandez, Lee, Lopez, Mayor Cutter (7) <br />NOES: None (0) <br />ABSENT: None (0) <br />ATTEST: <br />Ltfitsj. 4rguef' Cit Clerk <br />RESOLUTION NO. 2020-122 2 <br />