IE Business Daily Business news for the Inland Empire.
Riverside will hold a special city council meeting Tuesday regarding Measure Z, the one-cent-per-dollar sales tax that voters approved last November.
The meeting, scheduled to begin at 6 p.m. will be held at the Art Pick Council Chamber at Riverside City Hall, 3900 Main St., according to a statement.
The meeting will give residents and business owners an opportunity to comment on how they believe funds generated by Measure Z should be spent.
Measure Z, which was favored by approximately 60 percent of city voters, will take effect April 1. It’s expected to generate approximately $10 million by June 30 and about $51.5 million in each fiscal year after that, according to the statement.
Measure Z is intended to pay for a number of community needs and upgrades, including a new police headquarters with a holding facility, a new main library, two new downtown parking structures and expansion of the Riverside Convention Center and Metropolitan Museum.
During the next five years, the city must pay for more than $225 million in public works projects that currently have no funding, according to the statement.
