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CITY OF SAN LEANDRO STAFF REPORT Date: To: From: Subject: October 31, 2001 John Jermanis, City Manager Ed Schilling, Assistant City Manager APPROVED AND FORWARDED TO CITY COUNCIL M0 g� Jo ermanis Ci anager �C7011� t31a318 FURTHER DISCUSSION OF PROPOSED REAL PROPERTY TRANSFER TAX AMENDMENTS BACKGROUND On October 15, the City Council discussed proposed amendments to the Real Property Transfer Tax. Council Members expressed concerns about what promises had been made prior to the Measure G election and whether proposed implementation steps were consistent with the spirit of what had been promised. The Council directed staff to prepare a matrix describing what statements had been made at what time and how those statements related to the proposed amendments. Council also directed staff to attempt to estimate the actual financial consequences of implementing the proposed amendments. This matter has been scheduled for further discussion by the City Council on November 5. The following documents have been prepared to facilitate City Council discussion and direction on the implementation of the Real Property Transfer Tax rebate and exemption program. • Matrix summarizing dates and discussion points for the implementation of tax exemptions and rebates. • Summary Highlights of presentation by City Attorney at July 10, 2000, work session on potential tax exemptions and rebates. • Summary Highlights of Citizens Budget Review Committee meeting of August 22, 2000. • Staff presentation of proposed transfer tax rebate program presented to City Council on October 15, 2001. • Report of Bay East Association of Realtors on recommended transfer tax exemption program. ANALYSIS The attached matrix analyzes recorded statements regarding possible amendments to the Real Property Transfer Tax and relates them to the amendments recommended by staff. The final column presents the range of policy options that have been discussed to date. 331