THE CORPORATION OF THE CITY OF MARKHAM


EXCERPT CONTAINING ITEM #006c OF THE COUNCIL COMMITTEE (October 29, 13)


CL131029 (3) ALLOCATION OF GAS TAX REVENUE (7.0)

            Presentation

1)         That the presentation titled Allocation of Gas Tax Revenue dated October 28, 2013 be received.

2)         That Council approve the allocation of $1.51M per year of the Gas Tax revenues to address the shortfall in the Lifecycle reserve in order to meet the 25 year funding level starting in 2015; and,

3)         That Council approve the allocation of 50% of the Gas Tax revenues, up to a maximum of $4.0 million per year, for the years 2014-2017, to MDE; and,

4)         That Council approve the allocation of Gas Tax revenues to fund the unfunded portion of growth related projects approved in the 2013 Development Charges Background Study, estimated to be approximately $4.0 million annually beginning in 2018; and,

5)         That $2M annually in Gas Tax revenues beginning in 2014 be approved for stormwater management funding; and further,

6)         That the remaining annual balance of $0.5M to $1.5M be considered as a potential funding source for the unfunded proposed initiatives from 2015 to 2018.

CARRIED