RESOLUTION No. 36295

 

Refer decision on the refundable tax credit program dedicated to eligible local businesses that choose to employ disconnected youth to the FY 05-06 budget process (Resolution)

 

WHEREAS, the City Council passed Resolution No 36266 on October 27, 2004 which established Council’s interest in creating a refundable tax credit program for two tax years to encourage employment of disconnected youth by local businesses;

 

WHEREAS, Resolution No 36266 established guidelines for developing this program, including definitions of local businesses and eligible youth;

 

WHEREAS, Resolution No 36266 directed the Bureau of Licenses to bring forward for consideration by Council no later than February 28, 2005, an ordinance that amended Portland City Code Section 7.02 and a Memorandum of Understanding with Worksystems, Inc. to implement this program;

 

WHEREAS, Resolution No 36266 did not include a financial impact statement of the reduction in business license revenues of $100,000 as a result of this refundable credit program, nor calculate how that reduction would impact the City’s FY 05-06, FY 06-07 and possibly FY 07-08 budgets;

 

WHEREAS, in December 2004, all six elected officials of the City of Portland signed a City Commission Protocol agreement. Protocol item 7 states, “decisions with major financial implications will be presented to the City Commission in the annual budget process, the budget monitoring process, or otherwise ensure they are reviewed in the context of city-wide priorities.”; and

 

WHEREAS, the City of Portland still recognizes that investing in both young people and local businesses increases the success, health and vitality of our community and our citizens;

 

NOW, THEREFORE, BE IT RESOLVED: the City of Portland will review this refundable tax credit program in the FY 05-06 City budget process to ensure it meets city-wide priorities and proper funding. The Bureau of Licenses will include financial impact information in their budget narrative to highlight the Business License revenue reductions that will occur.

 

 

Adopted by the Council:  March 02, 2005  GARY BLACKMER

             Auditor of the City of Portland

             By: /S/ Susan Parsons

Thomas Lannom

February 3, 2005                Deputy

BACKING SHEET INFORMATION

 

AGENDA NO. 145-2005

 

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 36295

 

COMMISSIONERS VOTED AS FOLLOWS:

 

YEAS

NAYS

ADAMS

X

 

LEONARD

X

 

SALTZMAN

X

 

STEN

X

 

POTTER

X