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_ 1._ --_. <br />Business License Tax CAP <br />City Council Meeting of July 15, 1997 <br />Page 2 <br />ALTERNATIVES: <br />The Council may choose to leave the existing method of calculating the business license tax <br />unchanged, or the Council may choose to implement any of the above options. <br />FINANCIAL IMPACT: <br />The impact is predicated on Council's decision. If the Council chooses to change the <br />existing method, the $10,000 CAP would have the least financial impact; conversely, the <br />$1,000 CAP would have the greatest impact on the City's ability to continue generating <br />revenue <br />—6AVID R: MORA <br />Community DeveropraeDkvirector <br />ENVIRONMENTAL IMPACT: <br />None. <br />RECOMMENDATION: <br />Staff's recommendation is that no changes be made to the current Ordinance. However, if <br />Council chooses to implement a CAP, staff would recommend that it be set at $10,000, <br />thereby minimizing the potential loss in revenue to the City. <br />D RZ/kd <br />T <br />