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Posted: 5:02 p.m. Tuesday, Aug. 14, 2012
comment(6)
By Joshua Zuber
EL PASO, Texas - —
November's quality of life bond will ask three questions.
The first is for voters to approve a $245 million bond for new aquatic centers and pools, recreation centers, trails, park improvements as well as soccer-athletic fields.
The second will ask about $228 million to improve the zoo, build a children's museum and a multi-purpose cultural and performing arts facility.
According to Carmen Arrieta-Candelaria, the city's chief financial officer, it will cost taxpayers for the first question $14.10 per $100,000 of their property's value over the course of 20 years.
She said $12 a year for the second question.
If both propositions pass, it would be just under $40 annually.
Proponents of the bond say it is a great way to put El Paso in the spot light.
"That's one thing that we can do with the passage of this bond election is really define who we are. Saying this is what we're going to do. I think a lot of us are tired of not moving anywhere," Chair of "El Paso Tomorrow" PAC, Tripper Goodman, said.
But one West El Pasoan KFOX 14 talked to said an increase in taxes isn't appealing.
"We really don't have anything here to bring people here to El Paso, Ileen Talyor said. "(But) that's the thing: more taxes? I'm leaning toward the no."
The third question is to increase the HOT, or the hotel occupancy tax.
It will bump up the rate by 2 percent to help pay for the new downtown baseball stadium.
City officials project the impact of increasing HOT revenues would be about $2.4 million.
If it's not approved, the city will have to find another means to pay for it.
"If it doesn't pass, then we'll have to go through another alternative we've discussed earlier," Arrieta-Candelaria said. That is to establish a second corporation that would finance and own the ball park. And what that means is it would increase the cost because we would issue a different kind of debt."
She said other revenue could be sales tax and parking revenue.
Bond info here: http://www.ci.el-paso.tx.us/muni_clerk/agenda/08-14-12/08141213A.pdf
http://www.ci.el-paso.tx.us/muni_clerk/agenda/08-14-12/08141213B.pdf
http://www.ci.el-paso.tx.us/muni_clerk/agenda/08-14-12/08141213C.pdf
comment(6)
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