| |
| |
|
|
| |
| |
|
|
| |
9/28/06
Today marked an important milestone on our path to creating
the Town of Carmel Valley, something you will be reading
about in the papers in the next few days. This afternoon,
Governor Schwarzenegger signed into law AB 1602. Authored
by our Assemblyman John Laird, and with broad bipartisan
support including from our Senator Abel Maldonado —
this legislation corrected a technical glitch from the
California budget deal three years ago that left future
incorporations without an important revenue source.
What this means in practice is that the Town of Carmel
Valley will received an additional $600,000 in vehicle
license fee (VLF) revenues every year. And during the
first five years, the Town will also receive a “bump”
that will take, for example, the first year VLF revenues
to $900,000. By agreement, the Town will use half of
these revenues to pay down its “revenue neutrality”
obligation to the county early. While the Town of Carmel
Valley would have been fiscally viable without these
additional revenues, they do provide an important cushion
for the inevitable start-up surprises.
While incorporation opponents have tried to scare people
in the face of all evidence — that the Town would
be “underfunded,” today’s bill signing
should end all doubt on this score.
Good news! You should know as well that your CVA has
worked very hard for two years to get this law passed.
Cheers,
Glenn Robinson
CVA President |
|
| |
|
|
|
 |
 |
 |
 |
 |
|
|
|
