PROFESSIONAL SERVICES AGREEMENT REVENUE MEASURE

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After Proposition 13, the District's property tax revenue was allocated at a fixed "AB 8" formula — meaning the percentage of local property tax received by the District has been fixed at approximately 6% of the 1% property tax dollar. Since the passage of Proposition 13, during very difficult economic years, the state transferred (aka "took") local property tax dollars to help off -set state budget deficits. These have been referred to as "ERAF" tax shifts (Education Revenue Augmentation Fund). The annual loss of that former property tax revenue continues. The District was able to build facilities in the early years because, in 1972, voters passed a bond with nearly 71% support for the acquisition of properties and construction of park improvements. New parks and facilities have also historically been funded by developer fees (aka "Quimby" fees) on new residential construction. Those fees were much more robust when Thousand Oaks was adding hundreds of residential units each year. However, as the City approaches build -out and residential construction dries -up, funding for capital facilities (whether new amenities or simply replacing or rehabilitating aging infrastructure) is very limited. Thankfully, the City of Thousand Oaks has been an exceptional partner with capital facilities and project grants have helped CRPD with capital improvements over the years. In 2001, property owners in the Conejo Valley approved a District -wide Benefit Assessment District to off -set some of the ERAF-shift losses and help the District continue to keep pace with ongoing recreational and park needs of the Conejo Valley. That benefit assessment still provides critical funds to sustain the recreation and park system generating nearly $2,000,000 annually towards the District's overall (all funds) annual budget of approximately $27,000,000. In the coming years, should the District wish to maintain its infrastructure (parks, landscaping, walkways, lighting, fencing, playgrounds, parking lots, community centers, cultural centers, museum, historic sites, restrooms, sports fields, sport courts, water and wastewater lines, etc.) at a level the community has come to expect, it will need to invest significant resources into capital repair and replacement. If the District wishes to add or improve new parks or park amenities, even more capital improvement funds will be needed. New or expanded parks and capital amenities will also typically require additional resources or maintenance and operations. As for the District's participation in the COSCA, there are still approximately 1,000 acres of property identified as priority acquisition parcels for open space conservation; plus, the demand for resources needed to manage the public use of the trail system, the urban/wildland interface, and the open space resources themselves, continues to grow. Revenue Measure Study Session During a June 20, 2019 Revenue Measure Study Session, SCI Consulting provided the Board with a broad overview of the pros/cons of various revenue generating and funding mechanisms available to recreation and park districts and began a conversation with the Board and community about what (if any) potential additional revenue option(s) may be worth pursuing. As a result of the Revenue Measure Study Session, the Board created an Ad -Hoc Revenue Measure Committee (Directors Huffer and Cusworth) to help consider various options and directed the Ad -Hoc Revenue Measure Committee return to the full Board with recommendations.