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INFORMATIONAL MEMO <br />Page 4 <br />also a year of implementation time. The City of Kent implemented on a shorter time line but <br />advises against this. The proposed 10-month timeline that, while aggressive, meets the City's <br />needs to align revenues with expenditures while maintaining high service levels. <br />REVISED PROPOSED TIMELINE: <br />Timeframe <br />Action Item <br />By Whom <br />July and August, 2018 <br />Outreach to Seattle Southside Chamber of <br />Commerce and Westfield Southcenter Mall <br />Staff <br />August 21, 2018 Finance <br />Committee Meeting <br />Review and discuss revised implementation <br />schedule, outreach and revenue options. <br />Finance Committee <br />September — December <br />2018 <br />Continued outreach to business community on <br />B&O tax or increasing existing revenue — see the <br />Communication Plan attached to this memo. <br />Council decision to institute a B&O tax or pursue <br />other revenue options <br />Staff <br />Finance Committee <br />Full City Council <br />January — June, 2019 <br />• Conduct outreach and education - see the <br />Communications Plan attached to this <br />memo <br />• Research requirements and strategies <br />• Recruit for a tax accountant if warranted <br />based on Council decision <br />• Secure/establish a taxpayer payment portal <br />• Establish policy and procedures <br />• Present status updates and solicit policy <br />decisions from City Council <br />• Ensure required legislation is enacted <br />Staff <br />Finance Committee <br />Full City Council <br />July 1, 2020 <br />Effective date of legislation <br />RECOMMENDATION <br />The Committee is being asked to provide direction on the next steps that should be undertaken, <br />if any, to establish and institute a Business & Occupation tax for the City and provide input on <br />the draft communications plan <br />ATTACHMENTS <br />Proposed communications Plan <br />Preliminary draft Business & Occupation tax ordinance <br />Preliminary draft Tax Administration ordinance <br />AWC Local Business (B&O) Tax Rates, Effective January 1, 2018 <br />State of Washington B&O tax rates <br />4 W:12018 Info Memos\BO tax.docx <br />