(a) Council hereby approves the alternative method of distribution of the Local Government Revenue Assistance Fund (LGRAF), which shall be utilized by the Cuyahoga County Budget Commission.
(b) The alternative formula for apportionment of the LGRAF utilized by the Cuyahoga County Budget Commission consists of the following:
A guaranteed "base allocation" which will be adjusted annually and the "excess" above the base allocation. The base allocation is an average of the last three years allocations. The excess allocation is determined by employing four equally weighted statistical factors which are entirely objective and subject to simple verification.
The four statistical factors employed in allocating the excess are.
(1) Population divided by assessed value per capita.
(2) Population divided by per capita income.
(3) Population times population density.
(4) Number of individuals receiving public assistance.