THE CORPORATION OF THE CITY OF MARKHAM
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.