TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Approve the Interlocal Agreement Regarding the Distribution Formula for Allocation of Revenue From Local Option Fuel Tax Levied Pursuant to Section 336.025(1)(b), Florida Statutes, Among Sarasota County and Municipalities Within Sarasota County for the 6-Cent Local Option Gas Tax.
Recommended Action
Option 1: Approve the Interlocal Agreement regarding the distribution formula for allocation of revenue from Local Option Fuel Tax levied pursuant to Section 336.025(1)(b), Florida Statutes, among Sarasota County and municipalities within Sarasota County for the 6-Cent Local Option Gas Tax.
City Commission Options
Option 1: Approve the Interlocal Agreement regarding the distribution formula for allocation of revenue from Local Option Fuel Tax levied pursuant to Section 336.025(1)(b), Florida Statutes, among Sarasota County and municipalities within Sarasota County for the 6-Cent Local Option Gas Tax.
* Pros: Approval of the Agreement will allow the City to continue receiving its share of revenue from the 6-cent Local Option Gas Tax and provide funding for transportation improvements. It also maintains coordination between Sarasota County and the municipalities regarding the distribution of these funds.
* Cons: Approval of the Agreement requires the City to accept the established distribution formula, and the amount of revenue received may fluctuate depending on fuel consumption trends.
Option 2: Decline participation in the program.
* Pros: Declining participation allows the City to maintain full control over its transportation funds and avoid being bound by the County's distribution formula.
* Cons: The City would forfeit its share of the 6-cent Local Option Fuel Tax, reducing funding available for major transportation projects and limiting coordination with Sarasota County and other municipalities.
Background Information
Sarasota Cou...
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