Minutes 03/22/2016 - Laserfiche WebLink

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March 22, 2016 Background:  In accordance with the Virginia Personal Property Tax Relief Act (PPTRA), the City is required to annually establish the personal property tax relief percentage to be applied to qualified vehicles.  On June 23, 2015, Code Section 35-9.1 was added to exempt one motor vehicle regularly used by an eligible disabled veteran from the personal property tax. The financial impact of this exemption is being estimated at $150,000 -$300,000 based on the number of eligible disabled veteran that have applied for real estate tax relief. Discussion:  The City Treasurer, staff from the Commissioner of the Revenue Office and the City’s Chief Financial Officer met to discuss the personal property tax relief percentage. For calendar year 2015, the City of Portsmouth had a 53% relief percentage and that more than fully exhausted the state funds allocated to the city in 2015. Financial Impact:  Adoption of the 53% rate will have minimum impact on the city’s revenue budget. Recommended Action:  Adoption of the ordinance. Vision Principle: Efficient, Responsive Government. Next Steps Following Council Action:  Application of the tax relief credit to personal property tax bills will be performed by the City Treasurer’s Office upon adoption of this ordinance. Motion by Ms. Psimas, and seconded by Dr. Edmonds, to adopt the following ordinance, and was adopted by the following vote: “ORDINANCE ESTABLISHING A PERSONAL PROPERTY TAX RELIEF PERCENTAGE OF 53% FOR CALENDAR YEAR 2016 PERSONAL PROPERTY TAX BILLS.” Ayes: Cherry, Edmonds, Moody, Psimas, Whitaker, Wright Nays: None 16 - 95 - Adoption of a resolution authorizing the City of Portsmouth to contract with Transformation Consulting, LLC pursuant to a cooperative procurement conducted by the School Board of the City of Portsmouth for the purpose of developing a policy governing the utilization of minority and woman owned business enterprises (M/WBE). . Vision Principle: Efficient Service Delivery Background:  In September of 2013, MGT was retained by the City of Portsmouth to conduct a Disparity Study  The City’s Disparity Study was completed in June 2015. Discussion:  The Disparity Study provided the legal framework for the City to establish a Minority and Woman Owned Business Enterprise program.  Development of the policy statement is the integral part of establishing a comprehensive Minority and Woman Owned Business Enterprise program.  This Consultant is currently managing the Minority and Woman Owned Business Enterprise program for Portsmouth Public Schools, and therefore has the experience and ability to successfully assist the City in the development of its policy.  This is a one-time expense and the cost of the services is $45,000. This project will be completed within the next four months. Financial Impact:  Funding is available in the City Manager’s budget. Staff Recommends:  Adoption of the resolution.Vision Principle: Efficient Service Delivery.