City News

Print
Press Enter to show all options, press Tab go to next option

Measure II - Some Frequently Asked Questions

Post Date:11/05/2018 7:03 PM
 

With Measure II (Millbrae Recreation Center Restoration Bonds) on the ballot, Millbrae residents have sent in questions to City Hall to learn how the bond measure will impact the City and local homeowners.

Below are some of the frequently asked questions and answers about the bond measure and how it will impact local homeowners.

How much money do we have, and how much do we need, to restore the Millbrae Recreation Center?

To date, the City has secured more than $9.5 million from insurance proceeds, developer contributions, and committed capital project funds to restore the Millbrae Recreation Center. Up to $8 million will be covered by City resources which are currently being evaluated. In total, the restoration of the Millbrae Recreation Center is estimated to cost $30 million. If passed, Measure II would allow the City to issue a $12 million bond which will cover the difference in costs between available resources and the total cost to restore the Millbrae Recreation Center.

How much will it cost to restore the Recreation Center?

The total cost to restore the Recreation Center is estimated at $30 million. This estimate includes:

  • $23 million for site development and new construction.This includes a contingency amount for unexpected site conditions as well as a factor to account for escalating construction costs.
  • $6.5 million for architecture, engineering, design, construction management, and related services.
  • $810,000 to purchase furnishings, fixtures, technology, signage, and equipment.

What facilities would be funded by Measure II proceeds?

Measure II would fund the restoration of the Millbrae Recreation Center.  Funds from the bond would only be used for that purpose. 

How much would the Measure II bond measure cost me?

Measure II would result in a property tax of $8.70 per $100,000 of assessed value.  For the average home in Millbrae (assessed value $680,000), Measure II would cost less than $60 per year. 

To calculate for yourself, find the assessed value of your home on your property tax bill. Divide that number by $100,000. Multiply that result by $8.70. 

Example:  Assessed value = $680,000

$680,000 / $100,000 = 6.8

6.8 X $8.70 = $59.16

This is an annual cost.

How would the Measure II bond assessment be charged to me?

The Measure II bond assessment would be included on your annual property tax bill.  

How long would the Measure II bond assessments be assessed?

The Measure II bond assessment would be assessed until the bond debt is repaid. This typically lasts about 30 years.

Would the Measure II bond assessments be tax-deductible?

While the City cannot provide tax advice, the City anticipates that the Measure II bond assessment would be treated like your regular property tax assessment.  

Would there be any exemptions from the Measure II bond assessments for seniors and/or low-income individuals?

Exemptions are not permitted for this type of financing. 

Return to full list >>