2 20-0347 Subject: Discuss Topics Relevant To The Fiscal Health and Operations Of The City Of Oakland
From: Councilmember McElhaney
Recommendation: Discussion On Topics Relevant To The Fiscal Health And Operations Of The City Of Oakland Including: 1) Finance Department Overview Of Current Fiscal Challenges; 2) Values, Principles, Priorities And Tradeoffs Involved In Budget Balancing Measures; And 3) Equity Implications Of Budget Scenarios
Oakland is facing a $80 million budget shortfall over the next year (~14 months)! TOPA / COPA is an extremely costly and bureaucratic program that will require creation of an entire department and will cost millions to administer. At a time when the city is dealing with hiring freezes and current city staff is worried about layoffs, it is absolutely irresponsible to introduce TOPA / COPA. TOPA / COPA will also hurt city revenue by negatively impacting property tax and transfer tax. That $12 Million tax dollar spent on Land Trust would have benefited many, many more people by covering rents and mortgages during this crisis. And the city won't have funds to subsidize dilapidated buildings poorly managed by Land Trusts and city sanctioned developers. Address the budget crisis. No to TOPA / COPA! Active voting residents will hold Council members 100% accountable!
Oakland is facing a $80 million budget shortfall over the next year (~14 months)! TOPA / COPA is an extremely costly and bureaucratic program that will require creation of an entire department and will cost millions to administer. At a time when the city is dealing with hiring freezes and current city staff is worried about layoffs, it is absolutely irresponsible to introduce TOPA / COPA. TOPA / COPA will also hurt city revenue by negatively impacting property tax and transfer tax. That $12 Million tax dollar spent on Land Trust would have benefited many, many more people by covering rents and mortgages during this crisis. And the city won't have funds to subsidize dilapidated buildings poorly managed by Land Trusts and city sanctioned developers. Address the budget crisis. No to TOPA / COPA! Active voting residents will hold Council members 100% accountable!