To: Board of Supervisors
From: Ken Carlson, District IV Supervisor
Report Title: APPROVE and AUTHORIZE a one-time allocation of Contra Costa Futures Funds (CCFutures) to Stand Together Contra Costa
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
APPROVE and AUTHORIZE a one-time CCFutures allocation, in the amount of $50,000 to Stand Together Contra Costa, towards community benefit programs in Supervisorial District IV.
FISCAL IMPACT:
Up to $1,128,305 of one-time funds remain restricted under the CCFutures program. This proposal would allocate a one-time $50,000 grant to Stand Together Contra Costa from the remaining balance of the CCFutures to provide for additional community benefits within Supervisorial District IV.
BACKGROUND:
Contra Costa Future Fund Establishment
On February 4, 2003, the Board of Supervisors created the Contra Costa Future Fund (CCFutures) by dedicating a portion of the Transient Occupancy Taxes revenue collected from the Renaissance Club Sport Hotel located in the unincorporated Walnut Creek (Contra Costa Centre area).
On October 25, 2011, the Board of Supervisors considered a recommendation of the Finance Committee to deposit all TOT funds (including revenues from the Renaissance Club Sport Hotel for CCFutures programs) into the General Fund as general-purpose revenue and that any future allocations for CCFutures be discussed during the annual budget process rather than through an automatic allocation of TOT revenue. Following this direction fiscal year 2012/13 was the first, full fiscal year that all TOT revenues were deposited directly into the General Fund as unrestricted general-purpose revenue. As of the beginning of fiscal year 2022/23, $1,128,305 in residual CCFutures TOT revenues remained available for allocation.
On August 1, 2023, the Board authorized future use of the remaining one-time CCFutures funds, in the approximate amount of $1,128,305, to be directed towards Econo...
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