(July 10, 2008, updated text) -- As first reported on Thursday (July 10) on LBReport.com's front page, LB Mayor Bob Foster publicly proposed a ballot measure that if approved by voters would levy a parcel property tax to pay for a debt bond whose proceeds would fund infrastructure.

LBReport.com provides extended on-demand audio (Mayor's statement plus some Q & A) on a link below.

At a midmorning news briefing at LB's Main Library, Mayor Foster (flanked by senior city management and without elected officials) listed projects he said the $571 million debt bond (serviced by the parcel tax) would deliver within ten years. He repeatedly referred to the measure as "investment."

When asked by LBReport.com for the legal text of the measure, Mayor Foster indicated it wasn't available.

Reporters were provided with a map showing projects that the debt bond/parcel tax would fund (below, to enlarge in pdf form, click map)...

...and a list of projects in general categories, (click here (and also listed for convenience below).

When asked by LBReport.com how he could assure voters they'd get the promised projects when the legal language that would supposedly assure that wasn't available, Mayor Foster said the debt bond would itself list the items that it would fund.

Mayor Foster said the parcel property tax would cost LB residential property owners "$10/month" ($120/year) and commercial and industrial property owners would also "participate" [in some kind of formula based on square footage].

It also appears that Proposition 218 may require a unanimous vote of the City Council to get the measure on the November 2008 ballot (declaring an "emergency" first)...giving Councilmembers considerable leverage in the process.

Fifth district Councilwoman Gerrie Schipske said she isn't committing to support the Mayor's debt bond/parcel property tax increase proposal at this point.

In an emailed statement, the ELB Councilwoman indicated that she has NOT "been given the details of this proposal to increase property taxes...and is eager to find out if the city has had Standard and Poor review whether or not the proposed bond exceeds the City's abilities for debt service."

Additionally, Councilwoman Schipske indicated that she wants:

"[d]etails on the formula being used to assess property owners to determine whether the proposed parcel tax unduly burdens single family homeowners and whether the proposed assessment is equitable. A homeowner in the Ranchos shouldn't have to pay the same as one in Naples. Also many of the homeowners in my district currently have low property taxes due to Prop 13 and any increase may be a burden. The Council needs to see the design estimates for each and every project proposed and the locations so that one particular section of (the city -- the 5th district--isn't paying the bill for projects not in the district). The City of Piedmont took over a year with the help of a citizen municipal tax review committee to determine whether or not to assess a parcel tax and place it before the voters. I am concerned that something of this magnitude needs more than three weeks to vet. The Council also needs to be given other revenue proposals -- for instance we need to increase the per barrel oil tax. After I get these details - I will decide whether or not to support it. I also want to hold a community meeting to let the residents hear more about it."

As enumerated by Mayor Foster (and also listed in a flier distributed by city staff), below are the types of projects that Mayor Foster says the parcel property tax/debt bond would fund [terminology below is from city handout]

Details of measure -- its assessment mechanism and tax specifics -- weren't released. When asked by LBReport.com, the Mayor indicated that he believes the parcel tax for the debt bond could be enacted by majority (50%+1) voter approval (not the 2/3 majority required under Prop 13/Prop 218 for special taxes).

To launch audio of salient portions of the Mayor's statement and subsequent Q & A, click here. click here.

Developing.