Marin Voice: Measure D brings community together to keep Belvedere safe

One of the many beautiful things about Belvedere is that it’s a community that always comes together when faced with a problem. It’s what makes Belvedere so special. Today, we believe our community needs to do it again.

Voting yes on Measure D is the right thing to do.

Belvedere’s 80-year-old roads put the community at risk. Built on bay mud, Belvedere’s main arteries – San Rafael Avenue and Beach Road – are being undermined by sea water seepage. They are sinking and deemed seismically unstable by independent experts. Beach Road failed twice in the past five years. If damaged, the utilities underneath these roads – water, electrical, gas, internet and sewer – could fail.

To fix the roads, the city needs to raise funds. Belvedere is one of the most fiscally conservative cities in the state. Therefore, to fund these repairs, the city must borrow the $20 million needed and repay it over the next 30 years.

Some important facts: This is the first new tax that Belvedere has asked residents to vote on since the fire tax that appeared on the ballot in 1980. Belvedere maintains a lean annual operating budget, is in excellent standing with respect to its pensions, maintains a robust reserve policy, and has minimal debt. Our fiscal position is strong, reflecting decades of prudent financial management, but we simply cannot afford to fund this critical work without a new tax.

Fortunately, this work can be accomplished without increasing annual taxes. We had the honor of leading Belvedere’s deeply experienced citizen-led finance committee. Together, with third-party financial advisors, we reviewed a range of potential ways to raise these funds.

In establishing our criteria, we asked: Is it equitable? Is it consistent with our disciplined approach to financial management? Does it solve the problem? Will it ensure we have sufficient funds to retire the debt?

After careful analysis, this committee determined the best way to repay the debt is through a 0.8% real property transfer tax – paid only when a Belvedere home is sold. The tax can be paid by the buyer, seller or shared by both.

The committee also felt that this type of tax was the most fair. For example, it doesn’t burden those in our senior community living on fixed incomes as a new annual tax would. It doesn’t penalize newer residents already paying higher taxes versus long-time homeowners. Unlike annual parcel or ad valorem taxes, it is fully deductible for capital gains purposes.

In terms of oversight, there are strict accountability provisions in the measure, including annual use-of-funds audits and ongoing review by the city’s citizen-led finance committee. All of this information will be made available to the public to be fully transparent. Also, the state can’t take the funds, so every penny will be spent in Belvedere. The tax will sunset in 30 years or less.

The state requires Belvedere to become a charter city to raise this tax, just like 121 other cities in California representing nearly 50% of the population. The charter grants Belvedere only this one new authority – nothing else about our city government would change.

Changing to a charter city does not change the voter thresholds for passing new taxes. General taxes will still require majority approval by voters while special taxes will still require approval from two-thirds of voters.

Measure D is also endorsed by 17 former mayors who have led this community for more than 40 years, as well as Belvedere’s citizen-led finance committee.

So, it’s time for Belvedere to come together, as it’s always done, to address this critical issue. Vote Yes on Measure D on Nov. 8. For more information, go to: KeepBelvedereSafe.org.

Bob McCaskill is the former mayor of Belvedere. He is chair of the Belvedere Finance Committee and chair of the campaign supporting Measure D. John Wilton is a member of the Belvedere Finance Committee.