A summary of the proposed Chevron tax settlement can be seen in the unofficial report here.
Click on the agenda items below for the entire text of the City Council actions that implement the proposed settlement:

F.	SETTLEMENT AGREEMENT AND RESOLUTION RESCINDING BALLOT MEASURE

F-1.

CONSIDER and APPROVE a proposed settlement agreement with Chevron USA.  Terms of that proposed settlement include, but are not limited to, the following: (1)  The City will dismiss its appeal of the trial court decision invaliding Measure T, adopted by Richmond voters at the November 2, 2008, election; (2) Chevron waives the prejudgment interest in the Measure T litigation (approximately $1.2 million); (3) Chevron agrees that the proposed initiative measure petition that would amend the Utility User's Tax (UUT) and is currently being circulated for signatures will not be submitted; (4) Chevron agrees that the City will receive Community Benefits Agreement (CBA) benefits regarding fenceline air quality monitoring, the Bay Trail, and $2 million in funding for Greenprint, provided that the Greenprint funds will be paid in three equal installments beginning on July 1, 2010; (5) In addition to its liability under the current UUT and Business License Tax, Chevron will make payments for the next 15 years totaling $114 million in new revenue: (a) In each of the first two years beginning in FY 2011-2012, Chevron will pay the City $10 million in new revenue.  These payments are in addition to the $5 million Chevron agreed to pay the City in each of the next two years under a previous settlement regarding UUT tax liability. (b) In each of years 3-5, Chevron will pay the City an additional $13 million. (c) In each of the years 6-10, Chevron will pay the City an additional $7 million. (d) In each of the years 11-15, Chevron will pay an additional $4 million; (6) In the event a new tax measure is enacted by voters during the term of this proposed agreement that would otherwise increase Chevron's tax liability, Chevron will continue to be obligated to pay these amounts, but will not be required to pay any additional amounts that would be due under the new tax;  (7) In the event that force of nature substantially destroys the Chevron refinery, the agreement would terminate; and (8) If the Chevron refinery were sold, either side would have the ability to terminate the agreement.

F-2.

ADOPT a resolution rescinding Resolution No. 41-09 approved by the City Council on May 19, 2009 and withdrawing from the November 2, 2010 General Election ballot a proposed ordinance amending the City of Richmond's Utility Users' Tax so that the Utility Users Tax is based on actual usage, and to ensure that the tax covers all gas uses - (Vice Mayor Ritterman, Councilmembers Butt and Rogers 620-6581).