HomeMy WebLinkAbout05-27-10-2h - Resolution - 05/27/2010RESOLUTION NO. 05- 27 -10 -2h
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS, SUPPORTING THE ESTABLISHMENT OF REGIONAL INFRASTRUCTURE
IMPROVEMENT ZONES (RIIZs) INTO FEDERAL TAX LAW TO ASSIST IN
ADDRESSING THE NATIONWIDE INFRASTRUCTURE FUNDING SHORTFALL.
WHEREAS, the infrastructure inadequacies plaguing our communities - crumbling bridges,
aging highways, rail, ports, and mass transit, and deteriorating water and sewer systems - are in
dire need of maintenance and improvement;
WHEREAS, the American Society of Civil Engineers estimates the national infrastructure needs
more than $2.2 trillion dollars over the next five years to maintain its current status;
WHEREAS, the State of Texas will be home to 33 million people by 2030, requiring strategic
investments in critical infrastructure to keep up with growth in the State's economy and
population;
WHEREAS, in 2005, States and localities accounted for 75 percent of total infrastructure
spending;
WHEREAS, federal, state and local budgets are under constraints and cuts;
WHEREAS, RIIZs provide an innovative opportunity to allow regional and local solutions to
infrastructure funding challenges by encouraging private- sector investment through a favorable
tax treatment of funds and streamlined, established approval processes;
WHEREAS, RIIZs further defines a commitment to upgrading our infrastructure nationwide,
while protecting our environment, boosting the economy and creating jobs;
WHEREAS, RIIZs uphold proven regional and local infrastructure investment decision - making
processes by going through the local regional planning organization, and maintaining
consistency, transparency and accountability, tying infrastructure investments closely to a
region's approved plans, the local community's needs and the overall public good;
WHEREAS, regional planning organizations and our governing boards of appointed and local
elected officials are knowledgeable about infrastructure issues, and have expertise in regional
infrastructure financing, planning and development, and implementing new strategies to
determine appropriate infrastructure investments;
WHEREAS, local governments own and operate the majority of our nation's infrastructure and
the local elected officials are closest to the people, being accountable and responsive to the needs
of communities;
Resolution No. 05- 27 -10 -2h
WHEREAS, RIIZs offer new options to fund infrastructure improvements and construction —
urban, suburban and rural — that are shelf - ready, many of which are critical to preserving,
maintaining and making our system safer; and
WHEREAS, RIIZs are revenue positive for government by providing the private entity only the
marginal tax rate on investments made; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS:
PART 1: That the City Council authorizes the City of College Station to call upon Congress
to enact legislation enabling the establishment of RIIZs, and
PART 2: That a copy of this resolution be forwarded to all members of Congress from
Texas.
PART 3: That the City Council fully endorses the establishment of RIIZs into federal tax
law and hereby requests the Central Texas congressional delegation to actively
advocate for the enactment of RIIZ legislation.
ADOPTED this the _ day of May 27, A.D. 2010.
ATTEST:
City Secretary
APPROVED:
APPROVED:
Mayor
City Attorne