Real estate isn’t the only factor. The city’s sweetened beverage tax will come up $4.49 million short by 2024. A shortfall of retail sales, Business and Occupation taxes and other revenue will add another $9.37 to the general-fund deficit. Vehicle license fees and commercial parking taxes will contribute $1 million and $3.47 million respectively to the shortfall.
The city relies heavily on REET to pay for capital infrastructure projects — a category that includes a wide variety of construction such as bridge repairs, bus rapid-transit corridors, street paving and bicycle and pedestrian improvements.
City council budget chair Teresa Mosqueda said capital infrastructure projects funded by REET are the most likely
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